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GA HB1095
Bill
Status
Passed
4/10/2014
Primary Sponsor
Mickey Channell
Click for details
AI Summary
- Grants City of Eatonton residents a homestead exemption from municipal ad valorem taxes equal to the amount by which the current year assessed value of their homestead exceeds the base year assessed value, effectively freezing municipal taxes at the base year level
- Defines "base year" as the taxable year immediately preceding the first year the exemption is granted to the most recent owner, with annual adjustments capped at the lesser of 3% or the Consumer Price Index change
- Limits the homestead exemption to no more than five contiguous acres and excludes improvements or additional land added after January 1 of the base year; does not apply to state, county, or school district ad valorem taxes
- Requires a referendum on the November 2014 general election date, with the exemption taking effect January 1, 2015, if approved by more than half of voters; the Act automatically repeals if not approved
- Election expenses are borne by the City of Eatonton, and the exemption automatically renews annually as long as the owner continues to occupy the residence as a homestead
Legislative Description
Eatonton, City of; ad valorem tax; municipal purposes; provide homestead exemption
Last Action
Effective Date
4/10/2014
Full Bill Text
No bill text available