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GA HB1481
Bill
Status
Engrossed
3/20/2024
Primary Sponsor
Park Cannon
Click for details
AI Summary
- Provides a homestead exemption from City of Atlanta independent school district ad valorem taxes for educational purposes for homeowners in zip codes 30310, 30311, 30314, 30315, 30318, 30331, and 30354
- Exemption amount equals the difference between the current year assessed value and the base year assessed value, with the initial base year set as the lowest assessed value from the 2022, 2023, or 2024 taxable years
- Base year assessed value is adjusted annually by the lesser of 5 percent or an annual inflationary index rate determined by the tax commissioner, and does not apply to new improvements or additional land added after January 1 of the base year
- Exemption applies to taxable years beginning on or after January 1, 2025, and automatically renews each year as long as the homeowner continues to occupy the residence as a homestead
- Requires approval by a two-thirds majority in both legislative chambers and a referendum of City of Atlanta independent school district electors on the Tuesday following the first Monday in November 2024, with the City of Atlanta bearing election costs
Legislative Description
Atlanta, City of; ad valorem tax for educational purposes; provide homestead exemption
Last Action
Senate Read and Referred
3/21/2024
Committee Referrals
State and Local Governmental Operations3/21/2024
Intragovernmental Coordination3/14/2024
Full Bill Text
No bill text available