GMA and ACCG are holding an in-person, joint training session on House Bill 581 from 1:30 p.m. to 4:00 p.m. at The Edgewater on Lake Sinclair in Eatonton.

HB 581 passed during the 2024 legislative session and will usher in significant changes to Georgia’s property and local sales tax systems, if the associated constitutional amendment is approved by voters in the November 2024 general election.

This legislation authorizes a statewide floating homestead exemption for all local governments (with a local opt-out provision) and revises the several aspects of the reassessment notice and process.  The bill also modifies the local sales tax cap and creates a new type of local sales tax for property tax relief. 

Key Take-Aways:

• Better Understanding of the Provisions of HB 581
• Clarity on the Decisions to be Made and Timing
• Guidance on Potential Negotiations Among Local Governments
• Fiscal Impact of Floating Homestead Exemption
• Opportunity and Use for New Local Option Sales Tax