Bill > HB853

This bill proposes a new property tax homestead exemption for senior citizens in the City of Tunnel Hill, Georgia. Specifically, residents who are 70 years of age or older will be granted a $325,000 exemption from city ad valorem (property) taxes for municipal purposes. The exemption will apply to the homestead property of qualifying seniors, meaning the first $325,000 of the property's assessed value will be exempt from city taxes. The surviving spouse of a qualified senior can continue to receive the exemption as long as they continue to live in the home. To receive the exemption, residents must file an initial application with the city, after which the exemption will be automatically renewed each year. The exemption does not apply to state, county, or school district taxes and is not cumulative with other city homestead exemptions. The bill requires voter approval through a referendum during the November 2025 municipal election, and it will only take effect if more than half of the votes cast are in favor of the exemption. If approved, the tax exemption will begin on January 1st of the year following voter approval, and if not approved, the bill will be automatically repealed on January 1, 2026.

Government Affairs

https://www.legis.ga.gov/legislation/71655