Bill > SB334

This bill establishes a homestead tax exemption for residents of the City of Trion independent school district, which will reduce property taxes for homeowners by exempting the difference between the current year's assessed home value and the base year's assessed value. The exemption applies specifically to ad valorem (property) taxes for educational purposes, excluding taxes for bond repayment, and covers homestead property up to five contiguous acres. To receive the exemption, homeowners must file an initial application with the City of Trion's governing authority, after which the exemption will be automatically renewed each year as long as the homeowner continues to occupy the property. The bill requires a referendum to be held in November 2025, where voters in the Trion independent school district will decide whether to approve the tax exemption; if more than half of the votes cast are in favor, the exemption will take effect on January 1, 2026. The bill also specifies that this exemption is in addition to any other existing homestead exemptions and does not affect state, county, or municipal property taxes. Importantly, the bill must receive a two-thirds majority vote in both the Georgia Senate and House of Representatives to become law.

Government Affairs

https://www.legis.ga.gov/legislation/71342