Bill > HB1101

This bill proposes a new state-wide homestead tax exemption for certain senior residents in Georgia, allowing individuals aged 60 or older to receive an exemption of $500,000 on the assessed value of their homestead from ad valorem taxes, which are property taxes levied by the state or local governments, excluding taxes for bonded debt. This exemption applies to the resident's primary home, known as a homestead, and generally does not transfer to new owners, though a surviving spouse can continue to receive it if they occupy the home. To receive this exemption, an application must be filed with the local tax receiver or tax commissioner, though those who already had a homestead exemption in 2025 and remain eligible in 2026 will automatically receive it in 2026 without a new application. The exemption will be automatically renewed annually as long as the owner occupies the home, and recipients must notify the tax office if they become ineligible. This new exemption is in addition to other homestead exemptions, but if multiple exemptions apply, only the most beneficial one will be used. The exemption will take effect for taxable years beginning on or after January 1, 2027, but only if approved by a two-thirds vote in both legislative chambers and subsequently by voters in a statewide referendum to be held by November 2026.

Budget and Finance

https://www.legis.ga.gov/legislation/72617