The Cobb Board of Commissioners will hold three public hearings by the end of February after announcing it plans to opt out of a new Georgia ad valorem homestead exemption law.
The county is one of several local jurisdictions—including the City of Marietta and Marietta City Schools—that is pursuing the opt-out.
HB 581 was passed by the Georgia General Assembly in 2024, and state voters approved enabling legislation in a November referendum to establish a statewide floating homestead exemption.
Those exemptions apply to counties, school districts and municipalities, and would place a cap on property tax rates based on an inflation rate set by the Georgia Department of Revenue.
In a release sent out Wednesday by Cobb government, the county said it declared its intent to opt out of the new law because the county “currently has a floating homestead exemption which provides a greater benefit to taxpayers.”
The statement did not elaborate. Cobb offers a floating homestead exemption to property owners that does not change as long as their own their home.
The rate on a floating exemption in the new law would be set to the previous year’s rate of inflation and locks in a home’s valuation for up to three years.
Local bodies can also impose an additional sales tax to make up for lost revenue from a capped tax rate under HB 581.
The law was passed following concerns about dramatic property tax rate increases due to soaring assessments during periods of high inflation.
In passing the fiscal year 2025 Cobb budget in July, commissioners declined to “roll back” the general fund millage rate despite concerted pleas from the public.
HB 581 contains an opt-out clause for local jurisdictions, but they must adopt a resolution to do so after holding three public hearings that must also be publicly advertised.
They also must announce their intent to seek the opt-out by March 1. The Cobb County School District has not announced whether it may also seek the same process.
The biggest chunk of local property tax rates in Cobb are for school taxes. In Cobb, homeowners over the age of 65 can apply for a senior exemption.
In announcing its intent to opt-out of HB 581, Marietta City Schools said this week that “the legislation could result in significant funding reductions for local school systems, potentially impacting classroom instruction, teacher retention, and school programs. Opting out of the exemption will allow the Board of Education to continue making financial decisions that align with the needs and priorities of the Marietta community.”
The dates Cobb commissioners have set for those hearings are Tuesday, Jan. 28 at 7 p.m.; Tuesday, Feb. 11 at 9 a.m. and Tuesday, Feb. 25 at 7 p.m.
The board is scheduled to vote on the opt-out resolution at its regular meeting on Feb. 25.
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