GA HB1116

Creates a new Local Homestead Option Sales Tax (LHOST) of up to 1% beginning January 1, 2028, dedicated to providing homestead property tax relief, with proceeds distributed to counties and municipalities based on intergovernmental agreements

Converts existing local sales taxes (LOST, HOST, EHOST, RHOST) into LHOST on January 1, 2028, and raises the local sales tax cap from 2% to 5% on that date

Requires voter referendum approval for local government or school board budgets that increase ad valorem property tax revenues by more than 3% or the Consumer Price Index rate above the roll-back rate, with limited election dates in March and November

Mandates direct mailed notices to taxpayers when local governments propose millage rates exceeding the roll-back rate, detailing proposed taxes, rate comparisons, and public hearing dates

Places a nonbinding advisory referendum on the November 2026 ballot asking voters whether Georgia should provide complete property tax relief by exempting homestead properties from all local ad valorem taxation