Bill > HB252

This bill provides a specific homestead tax exemption for residents of Newnan, Georgia, which would reduce property taxes by the difference between the current year's assessed home value and the base year's assessed value. The exemption applies to municipal ad valorem (property) taxes but excludes taxes for bonded indebtedness, and covers homestead property up to five contiguous acres. Homeowners must initially apply for the exemption with the city, after which it will be automatically renewed each year as long as they continue to occupy the home. The exemption does not apply to state, county, or school district taxes, and cannot be combined with other base year value homestead exemptions if they exist. Importantly, the bill requires a referendum in November 2025, where Newnan voters will decide whether to approve the tax exemption; if more than half of voters approve, the exemption will take effect on January 1, 2026. The bill also includes provisions requiring a two-thirds majority vote in the state legislature to pass and gives legal recourse if the election is not properly conducted. This targeted tax relief aims to help homeowners by limiting the increase in their property tax assessments over time.

Government Affairs

https://www.legis.ga.gov/legislation/69865