GA HB252

City of Newnan residents would receive a homestead exemption from municipal ad valorem taxes equal to the difference between the current year assessed value and the base year assessed value, effectively freezing the taxable value at the level when the exemption is first granted

Exemption applies to homesteads of up to five contiguous acres and does not cover improvements or additional land added after January 1 of the base year, nor does it apply to taxes for municipal bond debt

Exemption does not affect state, county, or school district ad valorem taxes and cannot be stacked with other base year value homestead exemptions—taxpayers receive whichever exemption is more beneficial

Requires voter approval through a referendum scheduled for the Tuesday after the first Monday in November 2025, with the exemption taking effect January 1, 2026 if approved by majority vote

Homeowners must file an initial application with the City of Newnan, after which the exemption automatically renews annually as long as the property remains the owner's homestead