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Stonecrest holds first public hearing on whether to opt out of state's HB 581 homestead changes
Summary
City staff briefed residents and council on House Bill 581 and the timeline to decide whether Stonecrest will opt out; staff and residents raised concerns about long-term revenue shifts, local control and information access. No council decision was made; the public hearing process continues with final action scheduled for Feb. 24.
Stonecrest city staff on Monday opened the first of three public hearings required by state law on whether the city should opt out of House Bill 581, a recent Georgia law that would change how homestead exemptions and a new floating local option sales tax operate.
Deputy City Manager Michael McCoy said the city is following the statutorily required opt-out timeline and that no decision has been made: "On Jan. 13, the council moved forward with proceeding with the process to opt out. No decision has been made," McCoy said. He read the schedule for the public hearings and said the next hearing will be Feb. 10 and the final action is scheduled for Feb. 24.
Financial adviser Ed Wall outlined how HB 581 would work and its likely effects on Stonecrest's future taxable digest. Wall described three principal elements in the law: a floating homestead exemption linked to inflation, a floating local option sales tax that must be countywide to take effect, and changes to how local governments perform rollback calculations each year. He said the…
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