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Bill > SB382

GA SB382

GA SB382
Ad Valorem Taxation; make the state-wide base year homestead exemption mandatory for all political subdivisions

summary

Introduced
01/12/2026
In Committee
03/27/2026
Crossed Over
02/03/2026
Passed
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

AN ACT To amend Titles 20, 36, and 48 of the Official Code of Georgia Annotated, relating to education, local government, and revenue and taxation, respectively, so as to provide for property tax reform; to revise provisions regarding caps on local sales and use tax; to require that each sales tax return include specific information regarding the collection of such taxes; to revise the special district option sales and use tax (FLOST); to provide for imposition pursuant to resolution; to provide for distribution and use of proceeds; to revise the single state-wide homestead exemption from a base year homestead exemption to a uniform reduction of the value of the homestead; to eliminate its application to local school systems; to make such state-wide homestead exemption mandatory; to exclude amounts attributable to certain exemptions from ad valorem taxation from the equalized adjusted school property tax digest for the purpose of calculating the local five mill share and equalization grants; to require the proposed annual operating budget resolution of a local board of education to be approved in a referendum election if such resolution would increase certain revenues raised by the local board of education by a certain amount; to provide that certain proposed increases in revenue collections by local governments must be approved by the voters of such local government; to revise provisions relating to certification of assessed taxable value of property and method of computation, resolution or ordinance required for millage rate, and advertisement of intent to increase property tax; to make conforming changes; to provide for S. B. 382 (SUB) the holding of a nonbinding, advisory referendum election to determine whether the qualified electors of the State of Georgia desire that the Georgia General Assembly allow Georgians to decide whether to authorize new finance procedures for local governments and school systems for the purpose of providing complete property tax relief for homeowners; to provide for legislative intent regarding the appropriation of certain sales tax revenue collected on and after January 1, 2029, on the sale or lease of computer equipment to high-technology companies; to provide for related matters; to provide for a short title; to provide an effective date; to repeal conflicting laws; and for other purposes.

AI Summary

This bill, titled the "Homeownership Opportunity and Market Equalization Act of 2026," makes significant changes to property and sales tax laws in Georgia. Key provisions include making the state-wide homestead exemption, which provides a reduction in property value for primary residences, mandatory for all local governments and school districts starting January 1, 2027, and gradually increasing the percentage of the homestead value exempted from 10% in 2027 to 50% by 2031. It also revises rules for local sales and use taxes, increasing the overall cap from 2% to 5% starting January 1, 2027, and requires sales tax returns to include specific location data for collections. The bill also modifies the Special District Option Sales and Use Tax (FLOST), changing its imposition from a referendum to a resolution and extending the maximum levy period from five to ten years, with proceeds intended to offset property tax reductions from homestead exemptions. Furthermore, it introduces new requirements for local governments and school boards to seek voter approval through referendums if their proposed property tax revenue increases exceed 3% or the rate of economic inflation, and it mandates public hearings and advertisements for any proposed property tax increases above a certain threshold. Finally, the bill calls for a nonbinding advisory referendum in November 2026 to gauge public opinion on authorizing new finance procedures for local governments and school systems to provide complete property tax relief for homeowners.

Committee Categories

Budget and Finance

Sponsors (26)

Last Action

House Committee Favorably Reported By Substitute (on 03/27/2026)

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