GA HB1515

Madison County school district residents aged 70 or older would receive a $75,000 homestead exemption from school district ad valorem taxes for educational purposes, with property value above that amount remaining taxable

Eligible residents must file an application with the Madison County tax commissioner, after which the exemption automatically renews annually as long as the homestead is occupied

The exemption replaces (not adds to) any other homestead exemptions for Madison County school district educational taxes, and does not affect state, county, municipal, or independent school district taxes

Requires a two-thirds majority vote in both legislative chambers and approval by Madison County school district voters in a referendum scheduled for November 2026

If approved by voters, the exemption takes effect January 1, 2027, unless a statewide constitutional amendment exempting homesteads from all educational ad valorem taxes passes at the same election