GA HB861

Increases homestead exemption from City of Calhoun independent school district ad valorem taxes for residents aged 65-69 from $40,000 to $50,000 of assessed value

Increases homestead exemption for residents aged 70-74 from $100,000 to $115,000 of assessed value

Creates new exemption tier of $125,000 for residents aged 75 and older

Requires approval by local referendum scheduled for November 2025, with exemption changes taking effect January 1, 2026 if approved by majority vote

Amends original 2006 legislation that established the senior homestead exemption program for the school district