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GA SB490
Bill
Status
Passed
6/29/2020
Primary Sponsor
Bruce Thompson
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AI Summary
- Increases the homestead exemption from City of Cartersville independent school district ad valorem taxes for educational purposes from $28,000.00 to $60,000.00 of assessed value for residents who are 65 years of age or older or totally disabled as of January 1 of the taxable year
- Includes a sunset provision automatically repealing the increased exemption on December 31, 2027
- Requires approval by a two-thirds majority vote in both the Georgia Senate and House of Representatives to comply with state constitutional requirements
- Mandates a referendum on the November 2020 general election ballot, allowing electors of the Cartersville independent school district to approve or reject the exemption increase, with the City of Cartersville bearing the election expense
- If approved by voters, the increased exemption takes effect January 1, 2021, and applies to all taxable years beginning on or after that date
Legislative Description
City of Cartersville; ad valorem taxes for educational purposes; increase the amount
Last Action
Effective Date
6/29/2020
Full Bill Text
No bill text available