GA HB1492

City of Hampton residents who have lived in the city for 5 or more years would receive a homestead exemption equal to 100% of the assessed value of their home from city ad valorem taxes for municipal purposes, including taxes for municipal bond debt.

Homestead property covered is limited to no more than 5 contiguous acres; residents already receiving another Hampton homestead exemption for 5+ years would automatically qualify without filing a new application.

Exemption applies only to city taxes and does not affect state, county, or school district ad valorem taxes; it replaces rather than adds to any other city homestead exemptions.

Requires two-thirds majority approval in both Georgia legislative chambers and approval by City of Hampton voters in a referendum scheduled for November 2026.

If approved by voters, the exemption takes effect January 1, 2027; the City of Hampton bears the election costs, and the Act automatically repeals if the referendum fails or is not conducted.