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GA HB741
Bill
Status
Passed
5/9/2025
Primary Sponsor
Jesse Petrea
Click for details
AI Summary
- Creates a homestead exemption from Bryan County school district ad valorem taxes for educational purposes, freezing the taxable value at the base year assessment for qualifying homeowners
- Exemption equals the difference between current year assessed value and base year assessed value, effectively shielding homeowners from tax increases due to rising property valuations
- Applies to homesteads of up to 5 contiguous acres; does not apply to improvements or additional land added after the base year, nor to taxes for school district bonded indebtedness
- Surviving spouses may continue to receive the exemption as long as they occupy the home as a residence
- Requires voter approval in a referendum on the Tuesday following the first Monday in November 2025; if approved, takes effect January 1, 2026
Legislative Description
Petrea-Stephens-Franklin-Watson Tax Relief Act; enact
Last Action
Effective Date 2025-05-09
5/9/2025
Committee Referrals
State and Local Governmental Operations3/20/2025
Intragovernmental Coordination3/10/2025
Full Bill Text
No bill text available