Bill > HB780

This bill provides a unique property tax exemption for homeowners in the City of Greensboro, Georgia, effective from January 1, 2026. The exemption allows homeowners to reduce their municipal property taxes by the difference between their current year's assessed home value and their adjusted base year assessed value. The bill defines several key terms, including how the base year value is calculated and how inflation is factored into the assessment. Homeowners must apply for the exemption, though those who already have a homestead exemption in 2025 will be automatically enrolled. The exemption applies only to municipal taxes, not to state, county, or school district taxes, and cannot be combined with certain other base year value homestead exemptions. Before the exemption can take effect, it must be approved by a two-thirds majority in the Georgia legislature and then voted on by Greensboro residents in a referendum on the first Tuesday following the first Monday in November 2025. If approved by voters, the exemption will help protect homeowners from rapid increases in property tax assessments by effectively "freezing" their taxable property value with allowances for modest inflation and substantial property improvements.

Government Affairs

https://www.legis.ga.gov/legislation/71402