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Posted on: June 20, 2023

Homestead Exemption - Information Regarding Potential Changes

Oconee County News

Oconee County voters will have the opportunity to potentially increase their homestead exemptions and automate age-based property value freezes in an election in early 2024. These modifications will be addressed with ten ballot questions, and all ten questions must pass for the following changes to be made to current homestead exemptions. 

Potential Changes to Homestead Exemptions: 

  • The general homestead exemption will increase from $2,000 to $5,000 
  • In 2035, the general homestead exemption will increase again to $10,000
  • At age 65,  the assessed value of the property will automatically be frozen 
  • At age 75, an additional $10,000 will automatically be added to the property’s homestead exemption

If passed, all current homestead exemptions will be phased out over time.

 

More Info...
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