GA HB514

Incorporates the City of South Fulton from all unincorporated areas of Fulton County as they existed on July 1, 2016, subject to approval by majority vote in a referendum held on the Tuesday following the first Monday in November 2016

Establishes a governing authority consisting of a mayor (elected at-large) and seven councilmembers (elected by district), serving four-year terms with a three-consecutive-term limit; the mayor's annual salary is set at $23,000 and each councilmember's at $13,000

Caps the ad valorem property tax millage rate at 13.469 mills for operating purposes, with increases above that requiring voter approval via referendum; during the first five years, the rate cannot exceed 14.469 mills

Provides multiple homestead exemptions from city ad valorem taxes: $30,000 for all residents, an additional $15,000 for residents age 65+, an additional $10,000 for residents age 65+ meeting income limits, and a full-value exemption for residents age 70+ or disabled persons meeting income limits, all effective January 1, 2017

Creates a 24-month transition period during which Fulton County continues providing government services at the same cost while the city assumes functions incrementally, with the first mayor and council elected in a special election on the third Tuesday in March 2017