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GA HB1086
Bill
Status
Passed
5/1/2024
Primary Sponsor
Holt Persinger
Click for details
AI Summary
- Grants eligible senior citizens in the Barrow County school district a homestead exemption from school district ad valorem taxes for educational purposes equal to the increase in assessed value above the base year (the year before the exemption was first granted), effectively freezing the taxable value of the homestead
- Eligibility requires residents age 62 or older with annual income under $60,000 (qualifying for a $140,000 exemption) or age 70 or older with annual income under $113,000 (qualifying for a full-value exemption), with income excluding most retirement, survivor, and disability benefits up to the federal Social Security maximum
- Exemption does not apply to improvements or additional land added after the base year, does not cover state, county, municipal, or independent school district taxes, and is not available to households with minor children unless they are the applicant's natural, adopted, or foster children or wards
- Requires approval by a local referendum no later than the November 2024 general election, contingent on voters also approving two companion homestead exemption acts on the same ballot; if approved, the exemption takes effect January 1, 2025
- Exemption automatically renews annually as long as the homeowner continues to occupy the residence, with applicants required to file with the Barrow County tax commissioner and notify the office if they become ineligible
Legislative Description
Barrow County; ad valorem tax for educational purposes for certain senior citizens with certain maximum incomes; provide homestead exemption
Last Action
Effective Date 2024-05-01
5/1/2024
Committee Referrals
State and Local Governmental Operations2/9/2024
Intragovernmental Coordination1/31/2024
Full Bill Text
No bill text available