Bill > HB833

This bill establishes a new homestead tax exemption for residents of the Cherokee County school district, providing property tax relief by allowing homeowners to exempt the amount by which their current year home value exceeds their adjusted base year assessed value. The exemption applies specifically to school district ad valorem (property) taxes for educational purposes, starting in the 2026 tax year, and will require approval through a referendum vote in November 2025. Homeowners must apply initially, but once approved, the exemption will automatically renew each year as long as the homeowner continues to occupy the property. The bill defines key terms like "homestead" (including up to five contiguous acres), "base year assessed value," and "inflation rate," and includes provisions that prevent the exemption from transferring to subsequent property owners. The tax commissioner of Cherokee County will be responsible for determining the inflation rate and managing the exemption process. Importantly, this exemption cannot be combined with other base year value homestead exemptions, and the tax commissioner will apply whichever exemption is more beneficial to the taxpayer. The bill will only become law if it receives a two-thirds majority vote in both legislative chambers and is approved by voters in the county-wide referendum.

Government Affairs

https://www.legis.ga.gov/legislation/71634