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GA HB1493
Bill
Status
Passed
4/25/2022
Primary Sponsor
Jan Jones
Click for details
AI Summary
- Increases the senior homestead exemption from City of Milton ad valorem taxes for municipal purposes from $15,000 to $25,000 of assessed value for residents age 65 or older as of January 1 of the application year
- Requires approval by a two-thirds majority vote in both the Georgia Senate and House of Representatives to comply with Article VII, Section II of the state constitution
- Mandates a referendum on the first Tuesday following the first Monday in November 2022, with election costs borne by the City of Milton
- Effectiveness is contingent on voters also approving a separate repeal of the income-based senior homestead exemption found in Section 6.34 of the city charter during the same November 2022 referendum
- If approved by voters, the increased exemption takes effect January 1, 2023, and applies to all taxable years beginning on or after that date; if not approved, the Act is automatically repealed
Legislative Description
Milton, City of; senior homestead exemption; increase
Last Action
Effective Date 2022-04-25
4/25/2022
Committee Referrals
State and Local Governmental Operations3/25/2022
Intragovernmental Coordination3/4/2022
Full Bill Text
No bill text available