Homestead exemptions, SPLOTs questions on several local ballots this November
Expert breaks down what's on Midterm Election ballot
The first week of early voting set records across Georgia and Election Day is now just 18 days away. There have been questions about some of the lesser-known measures on the ballot like the homestead exemptions and county special purpose local option sales taxes.
ATLANTA - For many in Georgia, all eyes are on the race for U.S. Senate and governor, but this election cycle voters have other choices to make when they cast their ballots. One of the measures that may appear on your ballot depending on where you live, is a homestead exemption for your home.
"It's more of a credit to be able to reduce against the assessed value," said Dr. Shireda Howard, Managing Partner at Diversified Financial Management Group.
Howard says a homestead exemption reduces the property taxes homeowners owe on their legal residence.
What voters will decide in some areas is if that should be increased providing even more of a tax break.
"It is a reduction from the assessed value that gives you now the new property tax assessed value to which they're going to be applying that millage rate," Dr. Howard said.
Some of the homestead exemptions up for a vote affect certain groups like people 65 plus, as is the case in Fulton County.
Howard says these exemptions are meant to help taxpayers.
No matter what happens with the vote, exemptions would need to be applied for.
"We're in an influx where things have totally changed as far as the rising prices of different items," Dr. Howard said. "So, to me, I feel that every bit counts."
Another measure that some areas will see on the ballot is a SPLOST, a county Special Purpose Local Option Sales Tax. It is a 1% county sales tax used to fund specific capital projects.
Gwinnett County voters will consider one to fund a courthouse renovation and transportation improvements among other things.
"The key point here is to find out exactly what are you going to use the 1% for if it's going to be used for infrastructure if it's going to be used for schools," Dr. Howard said.
Howard says information is power and it is best to be informed before casting your ballot, especially for lesser-known issues.
Earlier this week, FOX 5 broke down two constitutional amendments and two referendums that everyone will see on their statewide ballots.