GA HB1340

Increases the income cap for Hall County school district homestead exemptions from $25,000 to $40,000 for residents aged 62-65 who are disabled or senior citizens, exempting $30,000 of assessed value from school taxes

Creates a new exemption for residents 66 years of age or older, exempting the first $480,000 of assessed value from Hall County school district ad valorem taxes for educational purposes with no income limit

Residents 70 years of age or older receive a full exemption from school district ad valorem taxes on their entire homestead value

Residents already receiving one exemption automatically qualify for enhanced exemptions as they age into new brackets without reapplying

Requires approval by two-thirds majority in both legislative chambers and a voter referendum in Hall County in November 2026, with an effective date of January 1, 2027 if approved