GA HB1527

City of Franklin Springs residents aged 65 or older would receive a homestead exemption for the full assessed value of their homestead from city ad valorem taxes for municipal purposes, effective January 1, 2027

Exemption requires a one-time application to the city governing authority and automatically renews annually as long as the resident continues to occupy the homestead

Exemption applies only to city municipal taxes and does not affect state, county, or school district ad valorem taxes; replaces any other city homestead exemptions rather than stacking with them

Requires approval by two-thirds majority vote in both chambers of the Georgia General Assembly and a local referendum in November 2026 where more than half of voters must approve

Act automatically repeals 365 days after the scheduled election date if the referendum fails or is not conducted; election costs paid by the City of Franklin Springs