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GA HB892
Bill
Status
Introduced
2/8/2018
Primary Sponsor
Beth Beskin
Click for details
AI Summary
- Creates a new homestead exemption from City of Atlanta ad valorem taxes for municipal purposes, exempting the amount by which a homestead's current assessed value exceeds its adjusted base year value
- Caps annual growth in the adjusted base year value at the lesser of 3% or the Consumer Price Index inflation rate, plus any value changes from additions, improvements, or removals to the property
- Applies only to primary residences with no more than five contiguous acres of surrounding land, and does not affect state, county, or school district ad valorem taxes or taxes for municipal bonded indebtedness
- Surviving spouses may continue to receive the exemption as long as they occupy the home as a residence and homestead; the exemption automatically renews each year after initial application
- Requires approval by City of Atlanta voters in a referendum scheduled for November 6, 2018, with the exemption taking effect for taxable years beginning on or after January 1, 2019; the Act automatically repeals if not approved
Legislative Description
Atlanta, City of; ad valorem tax; provide new homestead exemption
Last Action
House Second Readers
2/13/2018
Full Bill Text
No bill text available