HB703: HB703 Peachtree City, City of; ad valorem tax for municipal purposes; homestead exemption; increase income cap

Peachtree City currently gives residents age 65 and older a $5,000 homestead exemption from city property taxes if their household income does not exceed $30,000. This bill would amend that 2005 law to raise the exemption amount to $30,000 of assessed home value and raise the income cap to $60,000 for the senior and any spouse living in the home. Because the change affects property taxation, the bill requires a two-thirds vote in both the House and Senate, and it must also be approved by Peachtree City voters in a referendum set for November 2025. If voters approve, the change takes effect January 1, 2026. If voters reject it or no election is held, the bill is automatically repealed 365 days after the scheduled election date.

• Increases the Peachtree City senior homestead exemption from $5,000 to $30,000 of the assessed value of the home for city property taxes.
• Raises the household income cap for qualifying for the exemption from $30,000 to $60,000 per year.
• Requires a two-thirds majority vote in both legislative chambers before the change can take effect, as required for property tax measures under the Georgia Constitution.
• Requires Peachtree City voters to approve the change in a referendum on the Tuesday after the first Monday in November 2025.
• Sets the change to take effect January 1, 2026 if approved, and automatically repeals the Act 365 days after the election if voters reject it or no election occurs.
• Allows any elector to seek a court order (writ of mandamus) forcing the election superintendent to hold the vote if they fail to do so.

Residents of Peachtree City who are 65 or older and their spouses living in the same home, since their eligibility for a property tax break depends on this income cap and exemption amount. It also affects the Peachtree City municipal election superintendent and Fayette County election officials who must run the referendum.

If approved by voters, more Peachtree City seniors would qualify for a property tax break because the income limit would double, and those who already qualify would see a much larger reduction in their taxable home value, from $5,000 to $30,000.

• Section 1 rewrites subsection (b) of the 2005 Act to set the exemption at $30,000 of assessed value and the income cap at $60,000 for the senior and any co-residing spouse.
• Section 2 requires a two-thirds majority vote in both the Georgia House and Senate for the tax change to become law, per the Georgia Constitution.
• Section 3 requires a Peachtree City referendum in November 2025, specifies the ballot language, and sets January 1, 2026 as the effective date if approved.
• Section 3 also provides that the Act is automatically repealed 365 days after the election if voters reject it or the election is not held.
• Section 4 makes the rest of the Act (other than the election provisions) effective upon the Governor's signature or otherwise becoming law.

1. 2025-05-13Effective Date 2025-05-13
2. 2025-05-13Act 212
3. 2025-05-13House Date Signed by Governor (House)
4. 2025-04-07House Sent to Governor (House)
5. 2025-03-21Senate Passed/Adopted (Senate)
6. 2025-03-21Senate Committee Favorably Reported (Senate)
7. 2025-03-11Senate Read and Referred (Senate)
8. 2025-03-10House Passed/Adopted (House)

• Josh Bonner (R, HD-073)Primary sponsor
• Karen Mathiak (R, HD-082)
• Debra Bazemore (D, HD-069)
• Derrick Jackson (D, HD-068)

1. PassedHouse voteMarch 10, 2025

   165 yea, 0 nay (8 not voting, 7 absent)

   Local Calendar : House Vote #270

2. PassedSenate voteMarch 21, 2025

   53 yea, 0 nay (2 not voting, 1 absent)

   Local Consent Calendar: Senate Vote #265

• property taxes
• homestead exemption
• Peachtree City
• senior citizens
• local referendum