Georgia counties, cities, and school districts have until March 1 to decide on participation in the new floating homestead exemption from House Bill 581, aimed at stabilizing property tax assessments for owner-occupied homes. The law caps annual property assessments at the inflation rate, benefiting only residential properties. Local governments can opt out but must hold public hearings. Many cities, including Alpharetta, Dunwoody, and Fulton County, plan to participate, while others like Fulton County Schools intend to opt out, citing existing exemptions.
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