Proposal would tie McCaysville home tax breaks to sales tax proceeds

The proposal would exempt part of eligible home value from McCaysville city property taxes. It would cover residents of the Fannin County special district for the part of their homestead property located there. Home value above the exempt amount would remain taxable. The exemption would be added to other homestead exemptions that apply. The proposal ties its amount to proceeds from a new 1 percent local sales tax collected in the special district. A person must apply unless they received a city homestead exemption for the same home in the prior tax year and remain eligible. Once granted, the exemption would renew each year while the person lives there and remains eligible; they must report if they become ineligible. The proposal would also need a two-thirds vote in both the House and Senate. More than half of votes cast in the local referendum must favor approval. The referendum is set for November 2026. If the proposal receives the required legislative votes and voter approval, the exemption would apply to tax years from January 1, 2027, through December 31, 2039.