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GA HB1067
Bill
Status
Engrossed
3/23/2018
Primary Sponsor
Vernon Jones
Click for details
AI Summary
- Grants City of Stonecrest homestead owners an exemption from municipal ad valorem taxes equal to the amount by which the current year assessed value exceeds the base year assessed value, effectively freezing the taxable value at the level when the exemption was first granted
- Does not exempt taxes on improvements or additional land added to the homestead after January 1 of the base year, and does not apply to state, county, or school district ad valorem taxes
- Requires homestead owners to file an application with the City of Stonecrest governing authority; the exemption automatically renews each year as long as the owner continues to occupy the residence
- Applies only to taxable year 2019 and is in addition to any other existing homestead exemptions for City of Stonecrest municipal taxes
- Requires approval by majority vote in a referendum held during the November 2018 general election, with the City of Stonecrest bearing the election costs; if not approved, the Act is automatically repealed on January 1 following the election
Legislative Description
Stonecrest, City of; ad valorem tax; provide homestead exemption
Last Action
Senate Read and Referred
3/23/2018
Committee Referrals
State and Local Governmental Operations3/23/2018
Intragovernmental Coordination3/19/2018
Full Bill Text
No bill text available