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Newnan council approves resolution related to 1¢ ‘FLOSS’ referendum after presentation by city manager
Summary
The Newnan City Council unanimously approved a resolution related to the floating local option sales tax (FLOSS) after a presentation by Mr. Phillips explaining how House Bill 581 and the tax would affect homestead exemptions, tax bills and city revenue.
The Newnan City Council on Oct. 14 unanimously approved a resolution related to the floating local option sales tax (often called “FLOSS”) after a presentation from Mr. Phillips, the city manager.
Mr. Phillips told the council that House Bill 581, passed by the Georgia General Assembly earlier in the year, created a floating homestead assessment cap that required voter approval statewide and included an opt-out for local taxing authorities. “By not opting out,” he said, “the legislators placed an option inside the legislation that allowed the communities that did not opt out to ask for an additional 1¢ sales tax called FLOSS … in order to further reduce the obligation of property tax relief.”
Mr. Phillips outlined how the county’s sales-tax composition currently works and said that if the FLOSS referendum passes in November, the combined sales tax in Coweta County would move from 7% to 8% at the cash register. He emphasized that House Bill…
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