Bill > SB77

This bill provides a specific homestead tax exemption for residents of the City of Cartersville independent school district. The exemption allows homeowners to have their property taxes reduced by the difference between the current year's assessed home value and the home's "adjusted base year assessed value," which is calculated using the previous year's value, an inflation adjustment, and any substantial property changes. Homeowners must apply for the exemption initially, but once approved, it will be automatically renewed each year as long as they continue to occupy the home. The exemption applies only to the Cartersville independent school district's ad valorem taxes and will not affect other local or state taxes. The bill mandates a referendum in November 2025 where Cartersville residents will vote on whether to approve this tax exemption, which would be in effect for five years (from 2026 to 2030) if passed. To become law, the bill requires a two-thirds majority vote in both the Georgia Senate and House of Representatives. The bill also includes provisions for determining the annual inflation rate and ensures that if the election is not properly conducted, the act will be automatically repealed.

Government Affairs

https://www.legis.ga.gov/legislation/69805