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County staff outlines new floating homestead exemption under House Bill 581; opt-out window, notice changes explained
Summary
County staff briefed commissioners on changes to Florida's homestead exemption created by House Bill 581, including a one-time opt-out window, limits on assessed-value increases and notice changes; staff recommended no opt-out and described outreach steps for seniors.
County staff reviewed changes that will affect how homestead exemptions are calculated under legislation the presenter identified as House Bill 581 and explained how those changes could affect property tax notices and senior taxpayers.
The presenter told the Oconee County Board of Commissioners that House Bill 581 creates a ‘‘floating homestead exemption’’ that would limit year-to-year increases in a home's assessed value to a measure of inflation (likely the CPI), with 2024 as the base year. "It's my understanding there'll be no increase for '25," the presenter said. The presenter added that a value reset still occurs when a property is sold or when there is a substantial change…
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