Walnut Grove tax break would depend on sales tax and voter approval

The proposal would exempt part of eligible home values from City of Walnut Grove property taxes. It would cover homestead property within the Walton County special district and apply only to City of Walnut Grove taxes on the part of the property within that district. The exemption would be in addition to other homestead exemptions. A resident would need to apply unless already receiving the city's homestead exemption for the same home and still eligible. The exemption amount would depend on net proceeds from the local sales tax; home value above the exempt amount would remain taxable. If approved in the November 2026 vote, the exemption would apply to tax years starting January 1, 2027, through December 31, 2039.

The city election superintendent would hold a vote on the proposal. City voters who live within the Walton County special district would vote on the proposal. The proposal would also need a two-thirds vote in both the House and Senate to become law. More than half of the votes cast must favor approval for the exemption to take effect. If voters reject it, or the election is not held as required, the exemption would not take effect and the proposal would be repealed after 365 days. The election is set for the Tuesday after the first Monday in November 2026.