(The Center Square) — Some Georgia governments are considering opting out of a bill that limits the increase of a homestead property’s value to the rate of inflation.
House Bill 581 was presented as a constitutional amendment. Voters gave their stamp of approval to the measure in November, with 63% saying “yes.”
Cities and counties would be allowed to enact a one-cent special purpose, local option sales tax for property tax relief.
The bill, which takes effect Jan. 1, was lauded by some as a way to keep costs low for Georgia families.
“HB 581 limits increases in property taxes year to year, reforms the appeals process, and allows for more transparency in our taxation procedures,” Lt. Governor Burt Jones said in a statement. “With the passage of HB 581, we can continue to lower costs while eliminating confusion in Georgia’s local property taxation process.”
The law allows governments to opt-out, but they must file a form with the Secretary of State’s Office by March 1. They must show that they held three public hearings, with one being held in the evening hours on a business day, that were publicized by local media.