New property tax legislation goes into effect Jan. 1
Two pieces of legislation limiting a primary property’s taxable value regarding school district taxes are effective Jan. 1. In 2024, the Georgia General Assembly passed House Bill 581, creating a state floating homestead exemption while allowing local taxing jurisdictions to opt out. In the 2026 General Assembly, state lawmakers passed Senate Bill 33, which eliminated a local taxing authority’s ability to opt out of the statewide exemption. SB 581 caps taxable value of a primary residence at the consumer price index or 3% year over year, whichever is lower. The Cherokee County School District opted out for 2025-2026 but will now be subject to the statewide floating homestead exemption. Also in 2026, the General Assembly passed Senate Bill 407, a piece of local legislation that Cherokee County voters approved by referendum on Nov. 3. SB 407 creates another exemption for Cherokee County Schools, which effectively caps the taxable value of a primary residence at 4% year over year. For property owners who already have a homestead exemption, the Cherokee County Tax Assessor’s Office will automatically apply the max percentage that is most beneficial to the taxpayer, the county reports. There is no need to apply for the exemption provided by
