GA SB334

Creates a homestead exemption from City of Trion independent school district ad valorem taxes for educational purposes, freezing the taxable value at the base year level for qualifying homesteads up to 5 contiguous acres

Exemption amount equals the difference between current year assessed value and base year assessed value, effectively shielding homeowners from tax increases due to rising property values

Does not apply to improvements or additional land added after January 1 of the base year, and excludes taxes for school district bond debt

Requires a local referendum on the Tuesday following the first Monday in November 2025, with majority approval needed for the exemption to take effect January 1, 2026

Exemption is in addition to any other existing homestead exemptions and automatically renews annually as long as the owner continues to occupy the property as their homestead