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GA HB703

Bill

Official Source

Status

Passed

5/13/2025

Primary Sponsor

Josh Bonner

Click for details

Origin

House of Representatives

2025-2026 Regular Session

AI Summary

  • Increases the homestead exemption from City of Peachtree City ad valorem taxes from $5,000 to $30,000 of assessed value for residents aged 65 and older
  • Raises the income cap for qualifying for the exemption from $30,000 to $60,000 (combined income of resident and spouse)
  • Requires a local referendum on the Tuesday following the first Monday in November 2025 for voter approval
  • If approved by voters, the expanded exemption takes effect January 1, 2026; if not approved, the Act is automatically repealed 365 days after the election date
  • Election expenses are borne by the City of Peachtree City, with mandatory enforcement provisions including writ of mandamus if the election superintendent fails to conduct the referendum

Legislative Description

Peachtree City, City of; ad valorem tax for municipal purposes; homestead exemption; increase income cap

Last Action

Effective Date 2025-05-13

5/13/2025

Committee Referrals

State and Local Governmental Operations3/11/2025
Intragovernmental Coordination3/4/2025

Full Bill Text

No bill text available