GA SB234

Creates a homestead exemption from City of Dalton independent school district ad valorem taxes equal to the amount by which a home's current assessed value exceeds its adjusted base year assessed value, effectively freezing school tax assessments at a base year level with limited annual increases tied to inflation.

Applies to homestead properties of up to five contiguous acres and excludes ad valorem taxes levied for bonded indebtedness.

Homeowners who received a homestead exemption in 2025 will automatically qualify for the new exemption in 2026 without filing a new application; the exemption does not transfer to subsequent property owners.

Requires a two-thirds majority vote in both legislative chambers and approval by voters in a referendum scheduled for November 2025, with an effective date of January 1, 2026 if approved.

The City of Dalton governing authority will establish the annual inflation rate using the Consumer Price Index or similar federal index to calculate yearly adjustments to the base assessed value.