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GA HB1250
Bill
Status
Passed
5/1/2024
Primary Sponsor
Rob Leverett
Click for details
AI Summary
- Grants Elbert County school district residents age 65 and older a homestead exemption from school district ad valorem taxes for educational purposes equal to the amount by which the current year assessed value exceeds the base year assessed value, effectively freezing the taxable value at the base year level
- Limits the homestead to no more than five contiguous acres and excludes improvements or additional land added after January 1 of the base year from the exemption
- Replaces rather than supplements any other existing homestead exemption applicable to Elbert County school district ad valorem taxes for educational purposes
- Applies to taxable years from January 1, 2025, through December 31, 2028, with a built-in sunset provision
- Requires approval by Elbert County school district voters in a referendum to be held no later than the November 2024 general election, with the Act automatically repealed if not approved
Legislative Description
Elbert County; ad valorem tax for county purposes for certain senior citizens; provide homestead exemption
Last Action
Effective Date 2024-05-01
5/1/2024
Committee Referrals
State and Local Governmental Operations2/21/2024
Intragovernmental Coordination2/13/2024
Full Bill Text
No bill text available