City Intends To Opt Out Of Homestead Exemption / Upcoming Public Hearings

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FOREST PARK, Ga. — Feb. 6, 2025 — The Mayor and Forest Park City Council intend to opt out of the statewide adjusted base year ad valorem homestead exemption for the City of Forest Park. All concerned citizens are invited to the public hearing on this matter to be held at Forest Park City Hall, located at 745 Forest Pkwy., on Monday, Feb. 17, at 7 p.m.

Times and places of additional public hearings on this matter will be held at Forest Park City Hall on Thursday, Feb. 20, at 12 p.m. and Thursday, Feb. 20, at 6 p.m. For more information, call (404) 366-4720.
 

ABOUT HOUSE BILL 581

 

HB 581
  1. Grants a statewide floating homestead exemption that limits taxable value of homes to the inflation rate of the prior year.
  2. Allows local governments to opt out so that their tax base isn’t affected.
  3. Would permit an optional 1% sales tax to offset limit on recovery of property tax.

Example
  • Assessed Value of Home in 2024: $100,000
  • Assessed Value of Home in 2025: $110,000 (10% increase)
  • Inflation in 2024: 3%

HB 581

Opt-out

Assessed Value of Home limited to inflation rate of 3%, so taxable value is $103,000

Assessed Value of Home: $110,000 (Keeps current status quo)

PROS of HB 581

CONS of HB 581
  • Limits increases to taxable value of real property (assessed value) for homeowners
  • If state-wide, then will provide property tax uniformity for homeowners
  • Reduces taxes the City can collect
  • Could create need to raise millage rate
  • City may have to look for other ways to increase tax revenue
  • Tax burden shifts from residential properties to commercial and industrial
  • Less incentive for homeowners to sell their homes

Questions and request for additional information regarding HB 581 can be directed to the Clayton County Tax Commissioner's Office by emailing taxcommissioner@claytoncountyga.gov. 

 

Supporting Documents

File HB 581 Property Tax Relief and Reform for Georgians Presentation (7 MB)
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