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Cobb County holds second public hearing on House Bill 581 homestead cap and possible opt-out
Summary
County officials explained how House Bill 581 would limit increases to taxable values on homesteaded property and noted the county can opt out; residents urged the board to opt out. The board scheduled one more public hearing and plans a vote in the coming weeks to meet statutory deadlines.
Cobb County held a second public hearing Feb. 11 on whether to opt out of House Bill 581, the new state law that creates a statewide homestead float designed to limit the taxable-value increase for homesteaded properties to the inflationary rate set annually by the state revenue commissioner.
Chief Financial Officer staff explained the law and how it would apply in Cobb: the law, effective Jan. 1, 2025, authorizes a statewide homestead float that caps increases to the taxable values of homesteads according to a percentage tied to the consumer price index as provided by the revenue commissioner. County staff told the board the change would effectively begin limiting…
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