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GA SB340
Bill
Status
Passed
4/26/2016
Primary Sponsor
Elena Parent
Click for details
AI Summary
- City of Decatur residents aged 62 or older with household income not exceeding $25,000 receive a $50,000 homestead exemption from both city ad valorem taxes for municipal purposes and independent school district ad valorem taxes for educational purposes, excluding taxes levied to pay interest on and retire municipal bonded indebtedness.
- City of Decatur residents aged 65 or older receive an additional $10,000 homestead exemption from city ad valorem taxes for municipal purposes, excluding taxes for bonded indebtedness and the independent school system, regardless of income.
- Both exemptions apply to all taxable years beginning after December 31, 2016, and amend a prior homestead exemption act originally approved in 1985.
- Approval requires a referendum conducted in conjunction with the November 2016 general election; if not approved by a majority of voters, the Act is automatically repealed on January 1 following the election.
- Election expenses are borne by the City of Decatur, and the municipal election superintendent must publish notice in the official organ of DeKalb County for two weeks preceding the vote.
Legislative Description
Decatur, City of; provide for homestead exemption; municipal purposes
Last Action
Effective Date
4/26/2016
Full Bill Text
No bill text available