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Peachtree City staff flags HB 581 referendum as potential game-changer for property tax and LOST
Summary
City staff warned that Georgias HB 581 (headed for a statewide referendum) could cap homestead assessment growth tied to inflation, require local opt-in/opt-out decisions by March 2025, and create a new local option sales tax that would need intergovernmental negotiation to split revenues within the county.
Justin Strickland told the council that House Bill 581, passed by the Georgia General Assembly and signed by the governor, will appear on a statewide referendum in November and could materially affect local revenues if approved.
Staff described the bills two most consequential features: a statewide floating homestead exemption tied to the consumer price index that would cap reassessment increases for homesteaded…
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