GA HB780

Creates a homestead exemption from City of Greensboro municipal ad valorem taxes equal to the difference between the current year assessed value and an adjusted base year assessed value, effectively freezing taxable values for qualifying homeowners

Limits the exemption to homestead property of no more than one contiguous acre, and caps annual increases in the adjusted base year value at the inflation rate plus 25 basis points

Exemption does not apply to taxes levied for bonded indebtedness, state taxes, county taxes, or school district taxes, and does not transfer to subsequent property owners

Surviving spouses may continue receiving the exemption as long as they occupy the home as their residence and homestead

Requires approval by local referendum on the Tuesday following the first Monday in November 2025, with the exemption taking effect January 1, 2026 if approved by majority vote