House Bill 581, a measure approved by Georgia voters last November, has pressured the Madison City Council to make a quick decision.
Voters said yes to an amendment to the Georgia Constitution “to provide for local governments to have the option to offer a state-wide homestead exemption from ad valorem taxes in an amount equal to any amount by which the current year assessed value of a homestead exceeds the inflation rate from the adjusted base year value of such homestead as provided by general law; to provide for the submission of this amendment for ratification or rejection; and for other purposes.”
Every county and city in Georgia must decide to participate or not in this measure by March 1. Three public hearings will be required before the decision is reached.
The issue also applies to Morgan County and the cities of Bostwick, Buckhead, and Rutledge.
Madison officials have suggested inviting representatives from other government entities in Morgan County to participate in discussions on the issue.