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GA HB726
Bill
Status
Introduced
1/23/2018
Primary Sponsor
Jan Jones
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AI Summary
- Creates a new homestead exemption from Fulton County school district ad valorem taxes for educational purposes, exempting the amount by which a home's current assessed value exceeds its adjusted base year value
- Caps annual increases to the base year value at the lesser of 3% or the inflation rate (Consumer Price Index), plus any value from additions or improvements to the property
- Applies only to primary residences with no more than five contiguous acres of surrounding land, and does not affect state, municipal, independent school district, or county ad valorem taxes
- Requires a referendum on November 6, 2018, with the exemption taking effect January 1, 2019, if approved by more than half of voters; automatically repeals if not approved
- Surviving spouses may continue to receive the exemption as long as they occupy the home as their residence and homestead
Legislative Description
Fulton County; ad valorem tax; provide new homestead exemption
Last Action
House Withdrawn, Recommitted
2/20/2018
Full Bill Text
No bill text available