Bill > HB745

This bill provides a homestead tax exemption for residents of the City of Loganville, Georgia, starting in the 2026 tax year. The exemption allows homeowners to reduce their municipal ad valorem (property) taxes by the difference between the current year's assessed home value and the home's adjusted base year assessed value. To qualify, homeowners must apply initially, after which the exemption will be automatically renewed each year as long as they continue to occupy the home. The bill defines several key terms, including how the "base year assessed value" and "adjusted base year assessed value" are calculated, which involves accounting for inflation and substantial property changes. The exemption will not apply to state, county, or school district taxes and cannot be combined with certain other base year value homestead exemptions. Before becoming law, the bill requires a two-thirds majority vote in the Georgia legislature and must be approved by Loganville voters in a special election on the first Tuesday following the first Monday in November 2025. If approved by voters, the exemption will take effect on January 1, 2026, providing potential tax relief for Loganville homeowners by limiting the amount their property value can be taxed.

Government Affairs

https://www.legis.ga.gov/legislation/71270