GA HB1601

City of Gainesville residents would receive a $10,000 homestead exemption from the assessed value of their property for municipal ad valorem taxes, with property value above that amount remaining taxable

Residents must file an initial application with the city's governing authority to receive the exemption, which then automatically renews annually as long as the property remains their homestead

The exemption applies only to city municipal taxes and does not affect state, county, or school district ad valorem taxes; it adds to rather than replaces any existing city homestead exemptions

A referendum will be held on the Tuesday following the first Monday in November 2026, requiring majority voter approval for the exemption to take effect on January 1, 2027

The bill requires two-thirds majority approval in both the Georgia Senate and House of Representatives to become law