City of McDonough Example Tax Bill, 2020-2024

House Bill 581 would enact a floating homestead exemption. This exemption would limit annual property tax bills to increase no more than the inflation rate year-to-year. If House Bill 581 had been enacted in 2020, then this McDonough homeowner would have saved nearly $400 in city property taxes in the last four years.

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Every homeowner’s potential tax savings would be different, based on changes in their home value. This estimate uses historic millage rates which may have been different if HB 581 had been in effect.

Chart: Clayton Carte / The Henry ReporterSource: Henry CountyGet the dataCreated with Datawrapper