City of Kingsland 3rd Public Hearing HB 581 Opt Out
City of Kingsland Intent to Opt Out of HB 581
Kingsland, GA (January 15, 2025) – The Mayor and City Council of Kingsland intend to opt out of the statewide adjusted base year ad valorem homestead exemption for the City of Kingsland, Georgia. All concerned citizens are invited to the public hearing on this matter to be held at City Hall, 107 South Lee Street, Kingsland, Georgia 31548 on January 27, 2025 at 6:05 p.m. Times and places of additional public hearings on this matter are at City Hall, 107 South Lee Street, Kingsland, Georgia 31548 on February 10, 2025 at 6:00 p.m. and on February 24, 2025 at 6:00 p.m. Public comment is invited.
The Statewide Floating Homestead Exemption outlined in HB 581 and codified in O.C.G.A. Sec. 48-5-44.2 is considered an adjusted base-year homestead exemption, because it allows the homestead’s base-year value to increase annually up to the inflation rate determined by the State Revenue Commissioner. The value of the exemption is the difference between the adjusted base-year value and the fair market value. Even if two properties begin with identical base year values, if the fair market value of the properties diverge over time, then the property with the higher fair market value will receive the larger exemption while potentially paying the same in property taxes.
While HB 581 does provide property tax exemptions for homeowners with homesteaded properties, it disproportionately affects military families who frequently relocate, as well as renters who are unable to access the same tax relief. Small businesses, whether in owned or rental property, would also face financial strain due to this limitation. HB 581 does not limit spending so entities will have the option to simply raise the millage rate to offset revenues.
The Legislation permits local governments to remove themselves from the exemption before March 1, 2025. Every local government is affected by the exemption differently based on its tax digest mixture (commercial, industrial, office, residential, vacant land, etc.) and the average longevity of homestead properties.
The City of Kingsland has a long-standing commitment to ensuring fairness and equity for all its taxpayers. Historically, the city has taken proactive steps to roll back the millage rate each year for the last seven years, offsetting inflationary increases and ensuring that tax burdens are kept manageable for all residents. By opting out of HB 581, the city ensures that its tax policy remains supportive of all community members, from military families to renters and small business owners, and property owners alike. Opting out of HB 581 is a necessary step to ensure fairness for the hardworking residents of Kingsland. The city remains committed to upholding policies that foster economic growth and community well-being for everyone.
This summary is provided to satisfy the requirements of HB 581 (O.C.G.A. Sec. 48-5-44.2(i)).
WHAT: | City of Kingsland Homestead Exemption public hearings |
WHEN: | Monday, January 27, 2025 at 6:05 p.m. Monday, February 10, 2025 at 6:00 p.m. Monday, February 24, 2025 at 6:00 p.m. |
WHERE: | Kingsland City Hall, 107 S. Lee Street, Kingsland GA 31548 |