Bill > HB1200

This bill proposes to amend an existing law concerning a homestead exemption from ad valorem taxes for the Chatham County and City of Savannah School District, which is a tax levied for educational purposes. The key provision is to prevent any increases in the "adjusted base year assessed value" of properties above the value set in the tax year 2025. The "adjusted base year assessed value" refers to the property's assessed value in a specific base year, which would normally be increased annually based on inflation, as measured by the Consumer Price Index (CPI) published by the U.S. Bureau of Labor Statistics. However, this bill caps that adjusted value at the 2025 level, meaning even if inflation causes the CPI to rise, the assessed value for tax exemption purposes will not go higher than it was in 2025. The bill also outlines that it must be approved by a two-thirds majority vote in both the Georgia Senate and House of Representatives to become law, and it requires a referendum, or public vote, to be held in Chatham County on the date of the 2026 general primary to allow voters to approve or reject the proposed changes. If approved by voters, the new provision will take effect on July 1, 2026; otherwise, the bill will be repealed.

Government Affairs

https://www.legis.ga.gov/legislation/72876