There’s another reason to visit the polls this November. Residents will have the chance to approve a plan by DeKalb County CEO Michael Thurmond projected to save homeowners $1 billion over a six-year period.
The referendum is an Equalized Homestead Option Sales Tax (EHOST) credit for homeowners who qualify for a homestead exemption. If approved, the tax relief effort would begin in 2024.
The amount of property tax relief received by a qualified homeowner is based on the assessed value of the homestead property and sales tax revenue generated by EHOST.
The credit is not applied against taxes levied by DeKalb municipalities, school districts or tax allocation districts.
An EHOST was previously approved by voters in 2017, and will reach $738 million by the end of 2023.
“The proposed EHOST tax relief is part of a comprehensive strategy to improve housing affordability, counter gentrification and increase the marketability of homes,” Thurmond said.
DeKalb County Commissioners are now holding community meetings to discuss another tax measure, Special Purpose Local Option Sales Tax (SPLOST II). The one-cent sales tax for capital projects addresses transportation, public safety, parks and recreation and community facilities.
SPLOST I is expected to generate over $388 million.
“SPLOST II allows DeKalb County citizens the opportunity to direct significant investments back into our community, positively impacting our county both in the short term and long,” Commissioner Ted Terry said.
For additional tax information, visit DeKalb County’s website.