Bill > HB850

This bill provides a new homestead tax exemption for residents of Augusta-Richmond County, allowing property owners to receive a tax break on their ad valorem (property) taxes for local government purposes. Specifically, homeowners will be exempt from taxes on the amount by which their current property value exceeds their base year assessed value, with some important conditions. The exemption will first apply in the 2026 tax year and requires homeowners to apply initially, though those who already have a homestead exemption in 2025 will be automatically enrolled. The exemption does not apply to state, school district, or municipal taxes, and cannot be combined with certain other base year value exemptions. Importantly, the bill mandates a referendum in November 2025 where voters in Augusta-Richmond County will decide whether to approve this tax exemption, and it will only take effect if more than half of voters approve it. The bill also includes detailed definitions of terms like "homestead" and "base year assessed value" and provides mechanisms to ensure the exemption is applied correctly, such as requiring homeowners to notify tax authorities if they become ineligible. The exemption will not transfer to subsequent property owners and is designed to help protect homeowners from rapidly increasing property values.

Government Affairs

https://www.legis.ga.gov/legislation/71652