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Villa Rica council takes no action on HB 581 floating homestead exemption after public hearing
Summary
After a public hearing and extended public comment, the Villa Rica City Council took no motion to opt out of House Bill 581, leaving the city "opted in" to the statewide floating homestead exemption; residents raised concerns about local TAD impacts and notification.
The Villa Rica City Council on Feb. 11 conducted a third public hearing on House Bill 581 — the statewide floating homestead exemption — and took no motion to opt out, meaning the city remains opted in under the law.
The hearing drew several residents who said the new exemption and recent property actions were not being explained clearly to neighborhoods inside the city’s tax allocation district. Interim Deputy City Manager/CFO Miss Hallman described the mechanics of the law, and Attorney Drummond explained the council’s procedural choice: if no motion to opt out is made, the city is automatically opted in.
Miss Hallman said the city’s process for the HB 581 decision followed state timelines and advertising requirements and described the mechanics of the floating homestead: when assessors increase a home’s assessed value, the exemption ‘‘floats’’ up by the state-determined inflation adjustment so that a homeowner’s taxable base…
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