Bill > HB697

This bill provides a targeted property tax exemption for older homeowners in the City of Chickamauga independent school district. Specifically, residents aged 70 to 74 years old will receive a $50,000 exemption from educational ad valorem (property) taxes, while residents 75 years and older will receive a full exemption of their homestead's assessed value. The exemption applies to up to five contiguous acres and includes provisions for unremarried surviving spouses who are at least 67 (for those 70-74) or 70 (for those 75 and older) to continue receiving the exemption if they occupy the home. Homeowners must apply initially with the city, after which the exemption will be automatically renewed each year. The bill requires a referendum in November 2025, where voters in the Chickamauga independent school district will decide whether to approve the tax exemption. If more than half of voters approve the measure, the exemption will take effect on January 1, 2026. The bill also specifies that this exemption does not affect other types of property taxes and is contingent on receiving a two-thirds majority vote in the Georgia General Assembly.

Government Affairs

https://www.legis.ga.gov/legislation/71064