Burke County holds public hearing on HB 581 and whether to opt out of new homestead cap

Burke County officials held a public hearing on House Bill 581 (HB 581) to explain how the recently enacted state law and the November ballot measure (Amendment 1) could change the way assessed values for homesteaded properties are calculated and whether the county should exercise a local opt-out by the March 1 deadline.

County staff described HB 581 as a statewide response to rapid increases in property valuations that had spurred public complaints. Ben, a staff member in the Burke County tax assessor’s office, told attendees: "If you opt out you're taking away some sort of tax exemption. That is not at all what is happening." He and other staff emphasized the law limits how much a homesteaded property's taxable value may increase in a given year, using a formula the state revenue commissioner will set (staff said a consumer-price-index–based formula is expected but the exact percentage is not yet final).

The county's explanation focused on what HB 581 does and does not change. Staff said the rule applies only to properties with a valid homestead filing and that the new cap would affect the assessed (taxable) value, not directly change millage rates. As staff explained, a property’s tax bill remains a product of assessed value and locally set millage; if assessed-value growth is constrained under HB 581, the board of commissioners, the school board or a city could still change millage…