Bill
Bill > HB848
summary
Introduced
03/25/2025
03/25/2025
In Committee
04/02/2025
04/02/2025
Crossed Over
03/31/2025
03/31/2025
Passed
04/08/2025
04/08/2025
Dead
Signed/Enacted/Adopted
05/14/2025
05/14/2025
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To provide a homestead exemption from Polk County school district ad valorem taxes for educational purposes in the amount of the greater of 50 percent or $60,000.00 of the assessed value of the homestead for residents of that school district who are 65 years of age or older, in the amount of the greater of 75 percent or $80,000.00 of the assessed value of the homestead for residents of that school district who are 70 years of age or older, and in the amount of the full assessed value of the homestead for residents of that school district who are 77 years of age or older, all with a temporary cap on the annual aggregate exemption amount; to provide for definitions; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for compliance with constitutional requirements; to provide for a referendum, effective dates, automatic repeal, mandatory execution of election, and judicial remedies regarding failure to comply; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill provides a graduated homestead tax exemption for senior residents of the Polk County school district's ad valorem (property) taxes for educational purposes. Residents aged 65-69 will receive an exemption of either 50% or $60,000 of their home's assessed value, those aged 70-76 will receive an exemption of either 75% or $80,000, and residents 77 and older will receive a full exemption up to $500,000 in appraised fair market value. In 2026, there will be an aggregate annual cap of $150 million on these exemptions, meaning if total exemptions exceed this amount, they will be proportionally reduced. To claim the exemption, seniors must file an initial application with the Polk County tax commissioner, after which the exemption will be automatically renewed annually as long as they continue to occupy the home. The bill requires approval through a referendum election in November 2025, and it will only become effective if approved by a majority of voters. The exemption applies only to Polk County school district taxes and is in addition to any other existing homestead exemptions.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Effective Date 2025-05-14 (on 05/14/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/71650 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/238863 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/237224 |
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