Jones County holds public hearing on statewide floating homestead exemption; opt-out decision pending

Jones County held a public hearing Feb. 5 on House Bill 581, the 2024 state law that created a statewide "floating" homestead exemption and new local sales-tax options, with county staff explaining how the exemption works, the local opt-out process and steps the county is taking to address uneven property assessments.

County Administrator Jason Reznor said HB 581 took effect Jan. 1 and "none of our existing exemptions are affected by HB 581," and described how a floating exemption adjusts each year instead of remaining a fixed dollar amount. He told the meeting the base year for the exemption would be the 2024 assessed value, the exemption resets when a home sells or there is a substantial property change, and the exemption "can't be transferred to another property." Reznor also said jurisdictions that opt out must pass a resolution after three advertised public hearings and submit documentation to the secretary of state by March 1.

The nut of the hearing was whether Jones County should opt out of the statewide exemption now or remain…