HB 703: Peachtree City, City of; ad valorem tax for municipal purposes; homestead exemption; increase income cap

Since 2005, Peachtree City has offered senior residents (65 and older) a homestead exemption of $5,000 of assessed value on their city property taxes, but only if their household income was $30,000 or less. House Bill 703 would raise that exemption to $30,000 of assessed value and raise the income cap to $60,000, making more seniors eligible and shielding more of their home's value from municipal property taxes. Because this changes a local tax exemption, the Georgia Constitution requires the change to pass by a two-thirds vote in both the House and Senate, which it did, and then go before Peachtree City voters in a referendum on the November 2025 general election ballot. If a majority of voters approve, the new exemption takes effect January 1, 2026. If voters reject it or the election isn't held, the bill repeals itself automatically about a year after the election date.

• Increases the Peachtree City senior homestead tax exemption from $5,000 to $30,000 of a home's assessed value for city ad valorem (property) taxes.
• Raises the household income cap to qualify for the exemption from $30,000 to $60,000 per year, counting both the resident and any spouse living at the home.
• Requires the change to be approved by Peachtree City voters in a referendum on the November 2025 ballot before it can take effect.
• Sets the exemption's effective date as January 1, 2026 if voters approve, and automatically repeals the entire Act 365 days after the election if voters reject it or no election occurs.
• Requires the municipal election superintendent to call and conduct the referendum, with a court-ordered mandamus process if they fail to do so.

Peachtree City residents age 65 and older who qualify for the senior homestead property tax exemption, especially those whose household income falls between the old $30,000 cap and the new $60,000 cap. It also affects the City of Peachtree City government, which administers the tax exemption and must run the referendum.

Qualifying senior homeowners in Peachtree City would see a larger share of their home's assessed value exempted from municipal property taxes, six times the previous exemption amount, and more seniors would qualify because of the higher income limit. The change only takes effect if voters approve it in the November 2025 election.

• Section 1 rewrites subsection (b) of the 2005 Act, raising the exemption to $30,000 of assessed value and the income cap to $60,000 for the resident and spouse combined.
• Section 2 requires the amendment to pass by a two-thirds majority vote in both the House and Senate under the Georgia Constitution's local tax provisions.
• Section 3 requires a referendum on the Tuesday following the first Monday in November 2025, specifies the ballot language, and sets January 1, 2026 as the effective date if approved.
• Section 3 also provides that if voters reject the measure or no election occurs, the entire Act repeals automatically 365 days after the scheduled election date.
• Section 3 allows any Peachtree City elector to seek a court order (writ of mandamus) forcing the election superintendent to hold the vote if they fail to do so.
• Section 4 makes the rest of the Act effective upon the Governor's signature or upon becoming law without signature.

1. 2025-05-13Effective Date
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-73)Primary sponsor
• Karen Mathiak (R, HD-82)
• Debra Bazemore (D, HD-69)
• Derrick Jackson (D, HD-68)

1. PassedHouse voteMarch 10, 2025

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

   Local Calendar: House Vote #270

2. PassedSenate voteMarch 21, 2025

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

   LOCAL CONSENT CALENDAR: Senate Vote #265

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