GA HB1074

City of Suwanee residents would receive a $15,000 homestead exemption from the assessed value of their property for municipal ad valorem taxes, with property value above that amount remaining taxable

Residents must file an initial application with the city to receive the exemption, which then automatically renews each year as long as they continue occupying the residence as their homestead

The exemption applies only to City of Suwanee municipal taxes and does not affect state, county, or school district ad valorem taxes; it is in addition to any other existing homestead exemptions

A voter referendum must be held on the Tuesday after the first Monday in November 2026, requiring majority approval for the exemption to take effect January 1, 2027

The Act required a two-thirds majority vote in both the Georgia House and Senate for passage, and election costs are to be borne by the City of Suwanee