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GA SB631
Bill
Status
Engrossed
3/23/2022
Primary Sponsor
Bill Cowsert
Click for details
AI Summary
- Establishes base year homestead exemption freezes on ad valorem taxes levied by the Unified Government of Athens-Clarke County and the Clarke County School District for three groups: low-income residents (family income at or below 200% of the federal poverty level), first-time homeowners, and residents aged 65 and older
- Exempts qualifying homeowners from paying taxes on assessed value increases above their adjusted base year value, with the base year set as 2021 for exemptions first granted in 2023, or the year immediately preceding initial exemption for all other cases
- Requires the tax commissioner to annually adjust base year assessed values using an inflationary index rate, which may utilize the Consumer Price Index or a similar federal index reflecting cost-of-living changes for Athens-Clarke County residents
- Exemptions do not apply to improvements or additional land added to the homestead after January 1 of the base year, and are provided in lieu of any other homestead exemptions for unified government or educational purposes
- Requires approval by a two-thirds majority vote in both legislative chambers and a local referendum on the Tuesday following the first Monday in November 2022, with an effective date of January 1, 2023, if approved by voters
Legislative Description
Unified Government of Athens-Clarke County; certain ad valorem taxes; provide base year homestead exemption freezes
Last Action
House Second Readers
3/28/2022
Committee Referrals
Intragovernmental Coordination3/25/2022
State and Local Governmental Operations3/21/2022
Full Bill Text
No bill text available