Bill > SB333

This bill provides a specialized homestead tax exemption for residents of the City of Chickamauga independent school district, allowing homeowners to be exempt from educational ad valorem taxes on the amount by which their current property value exceeds its base year (previous year) assessed value. Specifically, homeowners must apply for the exemption with the city's governing authority and meet certain qualifications, including occupying the property as a primary residence and owning no more than five contiguous acres. The exemption will apply to all taxable years beginning on or after January 1, 2026, and will require approval through a referendum election to be held in November 2025, where voters will decide whether to accept or reject the tax exemption. The bill mandates that for the exemption to take effect, it must receive more than half of the votes cast in the election and must also pass with a two-thirds majority in both the Georgia Senate and House of Representatives. If approved, the exemption will not affect other types of property taxes such as state, county, or municipal taxes, and will be in addition to any existing homestead exemptions. The bill includes provisions to ensure the election is conducted properly and provides legal recourse if the municipal election superintendent fails to comply with the election requirements.

Government Affairs

https://www.legis.ga.gov/legislation/71340