GA HB1552

Provides a $90,000 homestead exemption from City of Bremen independent school district ad valorem taxes for residents age 65 or older who have been residents and property taxpayers for at least five consecutive years

Repeals the existing $10,000 homestead exemption for residents age 62 or older with household income not exceeding $10,000 (excluding certain retirement income), established by the 2008 Act

Persons currently receiving the existing $10,000 exemption will automatically receive the new $90,000 exemption without filing a new application

Requires voter approval through a referendum on the Tuesday following the first Monday in November 2026, with the exemption taking effect January 1, 2027 if approved

The exemption replaces other local homestead exemptions for school district taxes but applies in addition to any exemptions granted by general state law