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GA HB1166

Bill

Official Source

Status

Introduced

2/6/2024

Primary Sponsor

Sheila Jones

Click for details

Origin

House of Representatives

2023-2024 Regular Session

AI Summary

  • Grants City of Atlanta residents aged 65 or older a $50,000 homestead exemption from city ad valorem taxes for municipal purposes, with property value above that amount remaining taxable
  • Limits the homestead to no more than five contiguous acres and requires applicants to file an initial application with the city's governing authority, after which the exemption renews automatically each year
  • Replaces any other existing local homestead exemption for city municipal taxes and does not affect state, county, or school district ad valorem taxes
  • Requires approval by a two-thirds majority in both chambers of the General Assembly and by a majority of City of Atlanta voters in a referendum scheduled for November 2024
  • If approved by voters, the exemption takes effect for taxable years beginning on or after January 1, 2025; if not approved or the referendum is not held, the Act is automatically repealed the following July 1

Legislative Description

Atlanta, City of; ad valorem tax; municipal purposes; provide homestead exemption

Last Action

House Second Readers

2/8/2024

Committee Referrals

Intragovernmental Coordination2/7/2024

Full Bill Text

No bill text available