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

25 LC 47 3442/AP House Bill 703 (AS PASSED HOUSE AND SENATE) By: Representatives Bonner of the 73 rd, Mathiak of the 82 nd, Bazemore of the 69 th, and Jackson of the 68th A BILL TO BE ENTITLED AN ACT To amend an Act to provide for a homestead exemption from City of Peachtree City ad1 valorem taxes for municipal purposes in the amount of $5,000.00 of the assessed value of the2 homestead for residents of that city who are 65 years of age or over and whose income does3 not exceed $30,000.00, approved May 5, 2005 (Ga. L. 2005, p. 3719), so as to increase the4 income cap related to qualifying for such exemption to $60,000.00; to increase the value of5 the exemption to $30,000.00 of the assessed value; to provide f or compliance with6 constitutional requirements; to provide for a referendum, effec tive dates, and automatic7 repeal; to provide for mandatory execution of election and judicial remedies regarding failure8 to comply; to provide for related matters; to repeal conflicting laws; and for other purposes.9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:10 SECTION 1.11 An Act to provide for a homestead exemption from City of Peachtree City ad valorem taxes12 for municipal purposes in the amount of $5,000.00 of the assessed value of the homestead13 for residents of that city who are 65 years of age or over and whose income does not exceed14 $30,000.00, approved Ma y 5, 2005 (Ga. L. 2005, p. 3719), is ame nded by revising15 subsection (b) of Section 1 as follows:16 H. B. 703 - 1 - 25 LC 47 3442/AP "(b) Each resident of the City of Peachtree City who is a senio r citizen is granted an17 exemption on that person's homestead from City of Peachtree Cit y ad valorem taxes for18 municipal purposes in the amount of $30,000.00 of the assessed value of that homestead.19 The exemption granted by this subsection shall only be granted if that person's income20 together with the income of the spouse who also occupies and resides at such homestead21 does not exceed $60,000.00 for the immediately preceding year. The value of that property22 in excess of such exempted amount shall remain subject to taxation."23 SECTION 2.24 In accordance with the requirements of Article VII, Section II of the Constitution of the State25 of Georgia, this Act shall not become law unless it receives the requisite two-thirds' majority26 vote in both the Senate and the House of Representatives.27 SECTION 3.28 The municipal election superintendent of the City of Peachtree City shall call and conduct29 an election as provided in this section for the purpose of submitting this Act to the electors30 of the City of Peachtree City for approval or rejection. The e lection superintendent shall31 conduct that election on the Tuesday following the first Monday in November, 2025, and32 shall issue the call and conduct such election as provided by g eneral law. The election33 superintendent shall cause the date and purpose of the election to be published once a week34 for two weeks immediately preceding the date thereof in the official organ of Fayette County.35 The ballot shall have written or printed thereon the words:36 H. B. 703 - 2 - 25 LC 47 3442/AP "( ) YES37 ( ) NO38 39 40 41 42 43 Shall the Act be approved which provides an expansion of the ho mestead exemption from certain City of Peachtree City ad valorem taxes for municipal purposes in the amount of $30,000.00 of the assessed value of that homestead for residents of the City of Peachtree City who are 65 years of age or older, if that person's income together with the inco me of the spouse who also occupies and resides at such homestead does not exceed $60,000.00 for the immediately preceding year?" All persons desiring to vote for approval of the Act shall vote "Yes," and all persons desiring44 to vote for rejection of the Act shall vote "No." If more than one-half of the votes cast on45 such question are for approval of the Act, Section 1 of this Act shall become of full force and46 effect on January 1, 2026. If the Act is not so approved or if the election is not conducted47 as provided in this section, Section 1 of this Act shall not become effective, and this Act shall48 be automatically repealed on the 365th calendar day following the election date provided for49 in this section. The expense of such election shall be borne b y City of Peachtree City. It50 shall be the municipal election superintendent's duty to certif y the result thereof to the51 Secretary of State. The provisions of this section shall be ma ndatory upon the municipal52 election superintendent and are not intended as directory. If the municipal election53 superintendent fails or refuses to comply with this section, an y elector of the City of54 Peachtree City school district may apply for a writ of mandamus to compel the municipal55 election superintendent to perform his or her duties under this section. If the court finds that56 the municipal election superintendent has not complied with thi s section, the court shall57 fashion appropriate relief requiring the municipal election superintendent to call and conduct58 such election on the date required by this section or on the next date authorized for special59 elections provided for in Code Section 21-2-540 of the O.C.G.A.60 H. B. 703 - 3 - 25 LC 47 3442/AP SECTION 4.61 Except as otherwise provided in Section 3 of this Act, this Act shall become effective upon62 its approval by the Governor or upon its becoming law without such approval.63 SECTION 5.64 All laws and parts of laws in conflict with this Act are repealed.65 H. B. 703 - 4 -