Latest news with #StephensDay
Yahoo
28-02-2025
- Business
- Yahoo
City of Savannah opts out of state homestead exemption
SAVANNAH, Ga. (WSAV) — The City of Savannah unanimously voted to opt out of the state's new homestead exemption tax Thursday. The City of Savannah and Chatham County currently tax homeowners through the 25-year-old Stephens Day model, which freezes home values to what they were upon original purchase, and locks in the county tax rate, something city leaders said does not need changing. The decision was made during their final meeting at 6 p.m. Feb. 27. WSAV has been following House Bill 581 decisions in our area. Stick with us on air and online for more. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
05-02-2025
- Business
- Yahoo
City of Savannah hold first meeting on property tax models
SAVANNAH, Ga. (WSAV) – City of Savannah leaders made their pitch on why they believe opting out of the state's proposed homestead exemption, House Bill (HB) 581, is the best way to save homeowners money in the long term. The City of Savannah and Chatham County currently tax homeowners through the 25-year-old Stephens Day model, which freezes home values to what they were upon original purchase, and locks in the county tax rate, something city leaders said does not need changing. 'Some of the thinking of opting out would be why fix what's not broken, why confuse a really good thing, and why potentially cause room for error that could potentially harm taxpayers?' Savannah City Manager Jay Melder said. This, despite HB 581 allowing for homeowners to be taxed under the model that saves them the most money, giving them an option. That is what is leading homeowners to question the city's stance. 'If we would opt in to 581, we would still get the benefits, so I think this needs to be looked at very carefully by council before we move forward,' said homeowner Bob Rosenwald. CCPD seeks individuals wanted in connection to card fraud Still, city leaders said a new system could cost everyone more money for training and software and would rather stick with what they know. 'I think the smartest thing to do is to opt out,' said Melder. 'We already know what Stephens Day is and know that it provides a better benefit for our taxpayers. It's been adjusted, litigated, tried and true over time, and we just don't know what the impacts of House Bill 581 will do.' After an hour of discussion, community members said they were not still completely sold, and in some cases confused. 'You get whatever's better so why do we need to opt out?' said Jason Combs, president of the Thomas Square Neighborhood Association. 'If you can say with 100% confidence that Stephens Day is better than I trust you, but I'd like to see some more side-by-side comparisons, maybe for older homes and stuff too.' There are still two more public hearings before the city can makes a final decision. The meetings will be held Thursday, Feb. 13 at 2 and 6 p.m. The deadline to opt in or out of HB 581 is March 1, though Mayor Van Johnson said that deadline may be tentative. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
