Bill > HB1065

This bill proposes a homestead exemption from ad valorem taxes for municipal purposes in the City of West Point, Georgia, meaning a reduction in property taxes levied by the city for its operations. Specifically, eligible residents who are 65 years of age or older and have a household income not exceeding $50,000 annually can receive an exemption of up to $100,000 on the assessed value of their homestead, which is defined as their primary residence and up to five contiguous acres. This exemption applies only to city taxes and not to state, county, or school district taxes, and it is in addition to any other homestead exemptions already available. To receive this exemption, residents must apply with the city, providing proof of age and income, and the exemption will automatically renew each year as long as they continue to meet the requirements and occupy the home. The bill also outlines that this exemption will only become law if approved by a two-thirds vote in both houses of the Georgia General Assembly and subsequently by the voters of West Point in a referendum election to be held in November 2026, with the exemption taking effect on January 1, 2027, if approved.

Government Affairs

https://www.legis.ga.gov/legislation/72516