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GA HB617
Bill
Status
Passed
4/11/2012
Primary Sponsor
Rick Crawford
Click for details
AI Summary
- Provides a homestead exemption from Polk County school district ad valorem taxes for educational purposes when a homestead's current year assessed value exceeds 110 percent of the preceding year's assessed value
- The exemption amount equals the difference between the current year assessed value and 110 percent of the prior year's assessed value, and accumulates if values continue rising above the 110 percent threshold
- Does not apply to new improvements or additional land added to the homestead after the prior year's assessment, and does not affect state, county, municipal, or independent school district ad valorem taxes
- Requires homestead owners to file an initial application with the Polk County tax commissioner; the exemption then renews automatically each year as long as the residence remains a homestead
- Subject to approval by Polk County school district voters in a referendum held during the 2012 general primary election, with the exemption taking effect January 1, 2013, if approved, and applying to taxable years beginning on or after January 1, 2014
Legislative Description
Polk County; ad valorem tax; educational purposes; provide exemption
Last Action
Effective Date
4/11/2012
Committee Referrals
State and Local Governmental Operations4/11/2011
Intragovernmental Coordination - Local3/29/2011
Full Bill Text
No bill text available