Bill > HB772

This bill proposes to increase homestead tax exemptions for residents of the City of Norcross, Georgia. Specifically, the bill would raise the standard homestead exemption from ad valorem (property) taxes from $9,000 to $45,000 for all homeowners who own and occupy their residences, and increase the exemption for residents aged 65 and older from $18,000 to $90,000. The changes would take effect on January 1, 2026, but only after a mandatory referendum in November 2025 where voters will decide whether to approve the tax exemption increases. The bill requires a two-thirds majority vote in the Georgia General Assembly to pass and mandates that the municipal election superintendent conduct the referendum, with specific provisions for judicial remedy if the election is not properly executed. If approved by voters, the new tax exemption amounts will apply to all taxable years beginning after December 31, 2025, potentially providing significant tax relief for Norcross homeowners, particularly seniors.

Government Affairs

https://www.legis.ga.gov/legislation/71352