Bill > HB854

This bill increases the homestead tax exemption for residents of Cohutta, Georgia who are 70 years of age or older from $100,000 to $325,000. The ad valorem tax exemption (a type of property tax) will apply to the assessed value of the homestead, meaning property owners in this age group will not have to pay city taxes on the first $325,000 of their home's value. To become law, the bill requires a two-thirds majority vote in both the Georgia Senate and House of Representatives, and must be approved by voters in a referendum election to be held in November 2025. During this election, voters will decide whether to approve the increased exemption, with the new tax rate taking effect on January 1st of the year following voter approval. If voters do not approve the measure or if the election is not properly conducted, the bill will be automatically repealed on January 1, 2026. The bill includes provisions ensuring that if the municipal election superintendent fails to conduct the required election, any city elector can seek a court order to compel them to do so.

Government Affairs

https://www.legis.ga.gov/legislation/71656