GA HB362

Creates a homestead exemption from Bryan County school district ad valorem taxes for educational purposes, exempting the amount by which a home's current assessed value exceeds an adjusted base year value

Caps annual increases in the taxable base year value to the inflation rate (using Consumer Price Index or similar federal index), plus the value of any substantial property improvements

Applies to homesteads of up to 5 contiguous acres and does not transfer to subsequent property owners; exemption does not apply to taxes levied for bonded indebtedness

Requires approval by two-thirds majority in both legislative chambers and a local referendum on the Tuesday following the first Monday in November 2025

If approved by voters, the exemption takes effect January 1, 2026, using taxable year 2025 assessed values as the base year for eligible homeowners