Bill > HB776

This bill provides a homestead tax exemption for senior citizens in the Fulton County school district, specifically offering a 50 percent reduction in school district ad valorem taxes (property taxes for educational purposes) for residents who are 70 years of age or older. To qualify, a senior citizen must own and occupy a homestead (which can include up to five contiguous acres) and have been granted a homestead exemption in the district for five of the last six years. The exemption will not apply to state, county, municipal, or independent school district taxes, and it is in addition to other existing homestead exemptions. The bill requires a referendum to be held in November 2025, where voters in the Fulton County school district will decide whether to approve this tax exemption. If approved by more than half of voters, the exemption will take effect on January 1, 2026. The bill also includes provisions for automatic renewal of the exemption each year, with the requirement that homeowners notify the tax commissioner if they become ineligible, and it mandates that the bill can only become law if it receives a two-thirds majority vote in both the Georgia Senate and House of Representatives.

Government Affairs

https://www.legis.ga.gov/legislation/71385