GA HB1576

Creates a homestead exemption from City of Kingsland ad valorem taxes for municipal purposes equal to the difference between the current year assessed value and the base year assessed value, effectively freezing the taxable value at the time the exemption is first granted

Limits the exemption to homestead properties of no more than five contiguous acres; improvements or additional land added after January 1 of the base year remain subject to taxation at full value

Requires homeowners to file an initial application with the City of Kingsland, after which the exemption automatically renews annually as long as the property remains the owner's homestead

Does not affect state, county, or school district ad valorem taxes, and applies in addition to any other existing homestead exemptions for City of Kingsland municipal taxes

Requires voter approval through a referendum on the Tuesday after the first Monday in November 2026; if approved by more than half of voters, the exemption takes effect January 1, 2027