Bill > HB476

This bill introduces a specific homestead tax exemption for residents in the Bryan County school district that provides tax relief by exempting homeowners from school district ad valorem (property) taxes for educational purposes. The exemption is calculated by subtracting the property's "previous adjusted base year assessed value" from its current year assessed value, effectively limiting annual property tax increases. To qualify, homeowners must apply initially, with automatic renewal in subsequent years as long as they continue to occupy the home. The exemption covers up to five contiguous acres, applies only to school district taxes (not other local or state taxes), and will first be available for the 2026 tax year. The bill requires a referendum in November 2025 where Bryan County voters must approve the measure by more than a 50% vote, and it mandates a specific method for calculating annual inflation rates to determine the exemption's value. The bill is named the "Watson-Stephens-Petrea-Franklin Tax Relief Act" and will become law only if it receives a two-thirds majority vote in both chambers of the Georgia General Assembly.

Government Affairs

https://www.legis.ga.gov/legislation/70393