Chamblee holds public hearing on Georgia’s HB 581 floating homestead exemption; no vote taken

Chamblee — City officials held a public hearing on HB 581, the Georgia law that created a statewide floating homestead exemption, during a Chamblee City Council meeting. City staff explained how the exemption adjusts a home’s taxable base by an annual inflation rate, described timing and transfer rules, and answered questions before hearing two public comments. No formal motion or vote to opt out was taken.

The floating homestead exemption, enacted by the Georgia General Assembly and effective Jan. 1, 2025, reduces increases in a residence’s taxable value by “floating” the homestead base year amount forward each year by an inflation rate the Department of Revenue will set, city staff said. The exemption applies only to qualifying homesteads, does not apply to commercial property and cannot be transferred when a homeowner sells a property.

City staff told the council that if Chamblee opts in to the statewide floating…