Statement on notice to Opt-Out of Homestead Exemption

STATEMENT ON NOTICE OF INTENT TO OPT-OUT OF HOMESTEAD EXEMPTION
County officials recently submitted a legal advertisement to “opt out” of the HB 581 homestead exemption. The ad involves a referendum approved by voters in the November general election, which implements a statewide adjusted base year ad valorem homestead exemption.
While the homestead exemption automatically applies to all local governments and school districts, these jurisdictions may opt out of the homestead exemption for their jurisdiction by following specific procedures by March 1. Cobb County currently has a floating homestead exemption, which benefits taxpayers more.
No decision will be made on opting out until the end of the public hearing period. The notice was published to comply with a timeline set by the state and ensure the county can hold three public hearings to allow residents to speak on the topic. These hearings are set for Tuesday, January 28, 2025, at 7:00 PM, Tuesday, February 11, 2025, at 9:00 AM, and Tuesday, February 25, 2025, at 7:00 PM.
If the board decides to vote on opting out of HB 581, it must do so during its Feb. 25 meeting, just before the state-mandated March 1 deadline.