Catoosa voters would decide on a sales tax funded home tax exemption

The proposal would set an annual county property tax exemption amount using net proceeds from a local sales tax. It would apply to Catoosa County taxes on residents' homestead property located in the county's special district. Other taxing authorities' taxes would not be affected, and property value above the exempt amount would remain taxable. The ballot describes a new 1 percent Local Homestead Option Sales Tax. The tax would run for ten years, but the text does not state that its proceeds fully cover the exemption; the exemption amount is based on net proceeds. The exemption would cover tax years beginning January 1 after referendum approval through December 31, 2039. The proposed sales tax would run from January 1, 2028, through December 31, 2037.

A person seeking the exemption would generally need to file an application with the county tax official. The application and renewal rules would apply to people seeking this proposed Catoosa County exemption. A person who received another county homestead exemption for the same home in the prior tax year and remains eligible would not need to apply again for this exemption. Once granted, the exemption would renew each year while the person occupies the home as a homestead and remains eligible. The person must notify the tax official if they become ineligible. After it is granted, the exemption would renew each year while the homeowner lives in the home as a homestead and remains eligible.