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GA SB439
Bill
Status
Passed
5/6/2024
Primary Sponsor
Jason Esteves
Click for details
AI Summary
- Provides a $100,000.00 homestead exemption from City of Atlanta independent school district ad valorem taxes for educational purposes for residents aged 65 or older whose household income does not exceed $100,000.00
- Caps the total aggregate amount of homestead exemptions granted under the Act at $10 million annually; if claims exceed that cap, individual exemptions are reduced proportionally
- Excludes retirement, survivor, and disability benefits under Social Security and other public or private pension systems from the income calculation, except amounts exceeding the federal Social Security maximum
- Replaces rather than supplements any other existing homestead exemption applicable to City of Atlanta independent school district educational ad valorem taxes, and does not affect state, county, or municipal ad valorem taxes
- Requires approval by a two-thirds majority in both legislative chambers and by a majority of voters in a referendum scheduled for November 2024, with an effective date of January 1, 2025, if approved
Legislative Description
City of Atlanta; independent school district ad valorem taxes for educational purposes; provide
Last Action
Act 624
5/6/2024
Committee Referrals
Intragovernmental Coordination2/15/2024
State and Local Governmental Operations2/1/2024
Full Bill Text
No bill text available