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GA HB1320
Bill
Status
Passed
5/1/2024
Primary Sponsor
David Clark
Click for details
AI Summary
- Increases the City of Buford homestead exemption from ad valorem taxes for municipal purposes from $22,000 to $100,000 of the assessed value of the homestead
- Requires a two-thirds majority vote in both the Georgia Senate and House of Representatives to pass, per Article VII, Section II of the state constitution
- Mandates a referendum on the Tuesday after the first Monday in November 2024, where City of Buford voters will approve or reject the increased exemption
- If approved by voters, the increased exemption takes effect January 1, 2025; if rejected or if the election is not held, the Act is automatically repealed the following July 1
- Election costs are borne by the City of Buford, and any city elector may seek a writ of mandamus if the municipal election superintendent fails to conduct the referendum
Legislative Description
Buford, City of; ad valorem tax for municipal purposes; increase exemption
Last Action
Effective Date 2024-05-01
5/1/2024
Committee Referrals
State and Local Governmental Operations3/4/2024
Intragovernmental Coordination2/21/2024
Full Bill Text
No bill text available