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GA HB893
Bill
Status
Introduced
2/8/2018
Primary Sponsor
Beth Beskin
Click for details
AI Summary
- Creates a new homestead exemption from City of Atlanta independent school district property taxes for educational purposes, exempting the difference between the current year assessed value and an adjusted base year value of the homestead
- Caps annual increases in the adjusted base year value at the lesser of 3% or the inflation rate (CPI), plus any value changes from additions, improvements, or removals to the property
- Defines eligible homesteads as primary residences with no more than five contiguous acres, and allows surviving spouses to continue receiving the exemption as long as they occupy the home
- Does not apply to ad valorem taxes used to pay interest on or retire educational bonded indebtedness, nor to state, county, or municipal ad valorem taxes; the exemption is in addition to any other existing homestead exemptions
- Requires approval by voters in the City of Atlanta independent school district via referendum on November 6, 2018, with the exemption taking effect January 1, 2019, if approved; election costs are borne by the school district
Legislative Description
Atlanta, City of; independent school district property tax; provide new homestead exemption
Last Action
House Second Readers
2/13/2018
Full Bill Text
No bill text available