GA HB1582

Fayette County school district homestead exemption would be calculated as a floating amount based on property tax collections exceeding the 2025 base year by more than 100 percent

Excess tax collections above the 100% threshold would be segregated and used to fund equal exemptions distributed to all qualifying homesteads in the following tax year

Fayette County Board of Education has discretion to set the exemption value at any amount up to the available segregated funds, with unused funds deposited into the school district's general fund

Exemption would take effect January 1, 2027, and requires voter approval at a referendum on the Tuesday following the first Monday in November 2026

Applies only to Fayette County school district taxes and is in addition to any other existing homestead exemptions