SB382: SB382 Ad Valorem Taxation; make the state-wide base year homestead exemption mandatory for all political subdivisions

26 LC 33 9912S The House Committee on Ways & Means offers the following substitute to SB 382: A BILL TO BE ENTITLED AN ACT To amend Titles 20, 36, and 48 of the Official Code of Georgia Annotated, relating to1 education, local government, and revenue and taxation, respecti vely, so as to provide for2 property tax reform; to revise provisions regarding caps on local sales and use tax; to require3 that each sales tax return include specific information regarding the collection of such taxes;4 to revise the special district option sales and use tax (FLOST) ; to provide for imposition5 pursuant to resolution; to provide for distribution and use of proceeds; to revise the single6 state-wide homestead exemption from a base year homestead exemp tion to a uniform7 reduction of the value of the homestead; to eliminate its application to local school systems;8 to make such state-wide homestead exemption mandatory; to exclude amounts attributable9 to certain exemptions from ad valorem taxation from the equalized adjusted school property10 tax digest for the purpose of calculating the local five mill share and equalization grants; to11 require the proposed annual operating budget resolution of a local board of education to be12 approved in a referendum election if such resolution would increase certain revenues raised13 by the local board of education by a certain amount; to provide that certain proposed14 increases in revenue collections by local governments must be approved by the voters of such15 local government; to revise provisions relating to certification of assessed taxable value of16 property and method of computation, resolution or ordinance required for millage rate, and17 advertisement of intent to increase property tax; to make conforming changes; to provide for18 S. B. 382 (SUB) - 1 - 26 LC 33 9912S the holding of a nonbinding, advisory referendum election to determine whether the qualified19 electors of the State of Georgia desire that the Georgia General Assembly allow Georgians20 to decide whether to authorize new finance procedures for local governments and school21 systems for the purpose of providing complete property tax relief for homeowners; to provide22 for legislative intent regarding the appropriation of certain sales tax revenue collected on and23 after January 1, 2029, on the sale or lease of computer equipme nt to high-technology24 companies; to provide for related matters; to provide for a short title; to provide an effective25 date; to repeal conflicting laws; and for other purposes.26 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:27 PART I28 SECTION 1-1.29 This Act shall be known and may be cited as the "Homeownership Opportunity and Market30 Equalization Act of 2026."31 PART II32 SECTION 2-1.33 Chapter 8 of Title 48 of the Official Code of Georgia Annotated, relating to state sales and34 use taxes, is amended by revising Code Section 48-8-6, relating to prohibition of political35 subdivisions from imposing various taxes, ceiling on local sales and use tax, and taxation of36 mobile telecommunications, as follows:37 "48-8-6.38 (a)(1) Until December 31, 2026, except Except as provided in this subsection, on and39 after July 1, 2024, there shall not be imposed in any jurisdict ion in this state or on any40 S. B. 382 (SUB) - 2 - 26 LC 33 9912S transaction in this state local sales taxes, local use taxes, or local sales and use taxes in41 excess of 2 percent. For purposes of such 2 percent limitation, the taxes affected are any42 sales tax, use tax, or sales and use tax which is levied in an area consisting of less than43 the entire state, however authorized, including such taxes auth orized by or pursuant to44 constitutional amendment, and regardless of whether another provision of law purports45 to the contrary except for the following:46 (A) A 1 percent sales and use tax for educational purposes exe mpted from such47 limitation under Article VIII, Section VI, Paragraph IV of the Constitution;48 (B) Up to 1 percent in aggregate of any of the transportation related sales and use taxes49 authorized under Articles 5, 5A, and 5B of this chapter and Art icle 2 of Chapter 9 of50 Title 32, and in a county in which a tax is levied and collecte d pursuant to Part 2 of51 Article 2A of this chapter, any tax levied for purposes of a metropolitan area system of52 public transportation, as authorized by the amendment to the Co nstitution set out at53 Georgia Laws, 1964, page 1008, the continuation of such amendment under Article XI,54 Section I, Paragraph IV(d) of the Constitution, and the laws enacted pursuant to such55 constitutional amendment; and56 (C) Up to 1 percent in aggregate of any sales and use taxes au thorized under Code57 Section 48-8-96, Code Section 48-8-97, Article 2B of this chapter, Part 3 of Article 358 of this chapter, and Article 4 of this chapter.59 (2) Notwithstanding any provision of law to the contrary, any tax that does not comply60 with the limitations provided in paragraph (1) of this subsection as of July 1, 2025, but61 was initiated in compliance with the law in effect prior to Jan uary 1, 2025, shall be62 allowed to continue as authorized under laws that existed prior to July 1, 2025; provided,63 however, that, upon the expiration or termination of any such t ax, the jurisdiction that64 levied such tax shall be fully subject to the limitations imposed by this subsection.65 (3) This subsection shall not limit the imposition of any loca l excise tax, which is66 separately authorized under Chapter 13 of this title.67 S. B. 382 (SUB) - 3 - 26 LC 33 9912S (4) If the imposition of any otherwise authorized local sales tax, local use tax, or local68 sales and use tax would result in a tax rate in excess of that authorized by this subsection,69 then such otherwise authorized tax shall not be imposed.70 (5) This subsection shall stand repealed and reserved on December 31, 2026.71 (b)(1) On and after January 1, 2027, there shall not be imposed in any jurisdiction in this72 state or on any transaction in this state local sales taxes, local use taxes, or local sales and73 use taxes in excess of 5 percent. For purposes of such 5 perce nt limitation, the taxes74 affected are any sales tax, use tax, or sales and use tax which is levied in an area75 consisting of less than the entire state, however authorized, i ncluding such taxes76 authorized by or pursuant to constitutional amendment, and regardless of whether another77 provision of law purports to the contrary except for the following:78 (A) Sales and use taxes levied and collected pursuant to Article 4 of this chapter; and79 (B) Any tax levied for purposes of a metropolitan area system of public transportation,80 as authorized by the amendment to the Constitution set out at G eorgia Laws, 1964,81 page 1008, the continuation of such amendment under Article XI, Section I,82 Paragraph IV(d) of the Constitution, and the laws enacted pursu ant to such83 constitutional amendment.84 (2) This subsection shall not limit the imposition of any loca l excise tax, which is85 separately authorized under Chapter 13 of this title.86 (3) If the imposition of any otherwise authorized local sales tax, local use tax, or local87 sales and use tax would result in a tax rate in excess of that authorized by paragraph (1)88 of this subsection, then such otherwise authorized tax shall not be imposed. Reserved.89 (c) Where the exception specified in paragraph (2) of subsection (a) of this Code section90 applies, the tax imposed under subparagraph (a)(1)(D) of Code Section 48-8-111 shall not91 apply to the sale of motor vehicles. This subsection shall stand repealed and reserved on92 December 31, 2026.93 S. B. 382 (SUB) - 4 - 26 LC 33 9912S (c.1) Where the exception specified in paragraph (2) of subsection (a) of this Code section94 applies, on and after July 1, 2007, the aggregate amount of all excise taxes imposed under95 paragraph (5) of subsection (a) of Code Section 48-13-51 and all sales and use taxes shall96 not exceed 14 percent. This subsection shall stand repealed on December 31, 2026.97 (d) Notwithstanding any law or ordinance to the contrary, any tax, charge, or fee levied98 by any political subdivision of this state and applicable to mo bile telecommunications99 services, as defined in Section 124(7) of the federal Mobile Telecommunications Sourcing100 Act, 4 U.S.C. Section 124(7), shall apply only if the customer' s place of primary use is101 located within the boundaries of the political subdivision levy ing such local tax, charge,102 or fee. For purposes of this subsection, the provisions of Code Section 48-8-13 shall apply103 in the same manner and to the same extent as such provisions ap ply to the tax levied by104 Code Section 48-8-1 on mobile telecommunications services. This subsection shall not be105 construed to authorize the imposition of any tax, charge, or fee."106 SECTION 2-2.107 Said chapter is further amended in Code Section 48-8-30, relati ng to imposition, rate, and108 collection of tax, by adding a new subsection to read as follows:109 "(l)(1) On or after January 1, 2027, each sales tax return remitting taxes collected under110 this chapter shall include the location at which any of the taxes remitted were collected,111 including separate line items for collections made within the city limits of a municipality112 and collections made within an unincorporated area of a county. Vendors submitting113 such sales tax returns shall provide a North American Industry Classification System114 code with each respective sales tax return.115 (2) The commissioner shall compile and organize sales tax data differentiating sales116 made within the limits of a municipality from sales made within the unincorporated area117 of a county. In the event that a municipality is located in mo re than one county, the118 S. B. 382 (SUB) - 5 - 26 LC 33 9912S compiled sales tax data shall distinguish between such sales made within the municipal119 limits of each respective county.120 (3) On or before December 31 of each calendar year beginning on and after January 1,121 2027, the commissioner shall publish on the department's website the aggregate sales tax122 data specified by the North American Industry Classification System."123 SECTION 2-3.124 Said chapter is further amended in paragraph (1) of subsection (a) of Code Section 48-8-201,125 relating to intergovernmental contract for distribution of tax proceeds, approval of126 referendum by voters, cap on aggregate amount of tax, and rate, by striking "paragraph (2)127 of subsection (a)" and replacing it with "subsection (b)".128 SECTION 2-4.129 Chapter 13 of Title 48 of the Official Code of Georgia Annotate d, relating to specific,130 business, and occupation taxes, is amended in division (b)(7)(B )(ii) of Code131 Section 48-13-51, relating to county and municipal levies on public accommodations charges132 for promotion of tourism, conventions, and trade shows, by striking "subsection (c.1) of Code133 Section 48-8-6 and".134 PART III135 SECTION 3-1.136 Article 2B of Chapter 8 of Title 48 of the Official Code of Geo rgia Annotated, relating to137 special district option sales and use tax (FLOST), is amended b y revising Code Section138 48-8-109.31, relating to imposition of special sales and use ta x within special district and139 limited time and purpose, as follows:140 S. B. 382 (SUB) - 6 - 26 LC 33 9912S "48-8-109.31.141 (a) Subject to the requirement of approval by local referendum adoption of a resolution142 and the other requirements of this article, there may be imposed within any given special143 district a special sales and use tax for a limited period of ti me for the limited purpose of144 property tax relief.145 (b) Except as to rate, a tax imposed under this part shall correspond to the tax imposed by146 Article 1 of this chapter. No item or transaction which is not subject to taxation under147 Article 1 of this chapter shall be subject to a tax imposed under this article, except that a148 tax imposed under this article shall apply to sales of motor fu els as prepaid local tax as149 defined in Code Section 48-8-2 and shall be applicable to the s ale of food and food150 ingredients and alcoholic beverages as provided for in Code Section 48-8-3.151 (c) The special sales and use tax provided for in subsection (a) of this Code section may152 be imposed by a special district in 0.05 percent increments, but in no event shall such tax153 exceed 1 percent in total. The levy of such tax upon sales of motor fuels as defined in154 Code Section 48-9-2 shall only be imposed on the retail sales price of the motor fuel which155 is not more than $3.00 per gallon.156 (d) As conditions precedent to the issuance of the call for th e referendum adoption of a157 resolution by the governing authority to impose a levy pursuant to this article:158 (1) The governing authority of the county whose geographical boundary is conterminous159 with that of the special district and the governing authority o r authorities of all160 municipalities in such county that levy an ad valorem tax on property, other than those161 municipalities that are excluded from the special district pursuant to subsection (f) of this162 Code section, shall have in effect a base year value homestead exemption or adjusted163 base year value homestead exemption, except that such condition precedent shall not164 apply with respect to any municipality that levies an ad valorem tax on property and that165 represents no more than 5 percent of the special district's residents of municipalities that166 levy an ad valorem tax on property; and167 S. B. 382 (SUB) - 7 - 26 LC 33 9912S (2) The governing authority of the county whose geographical boundary is conterminous168 with that of the special district and the governing authority o r authorities, if any, that169 represent at least 50 percent of the special district's residents of municipalities that levy170 an ad valorem tax on property, other than those municipalities that are excluded from the171 special district pursuant to subsection (f) of this Code sectio n, shall enter into an172 intergovernmental agreement calling for the tax authorized unde r this article and173 specifying the proposed rate of the tax, the proposed maximum period of time that the tax174 is to be levied, and the proposed distribution of the tax.175 (e)(1) As used in this subsection, the term 'absent municipality' means any municipality176 that levies an ad valorem tax on property, other than those mun icipalities that are177 excluded from the special district pursuant to subsection (f) of this Code section, and that178 did not enter into the intergovernmental agreement provided for in paragraph (2) of179 subsection (d) of this Code section.180 (2) If the combined total of the populations of all absent mun icipalities is less than181 one-half of the aggregate population of all municipalities loca ted within the special182 district that levy an ad valorem tax on property, the governing authorities entering into183 such intergovernmental agreement shall, in behalf of such absent municipalities, specify184 a percentage of that portion of the remaining proceeds which ea ch municipality that185 levies an ad valorem tax on property shall receive, which percentage shall not be less than186 that proportion which each such absent municipality's populatio n bears to the total187 population of all municipalities that levy ad valorem taxes on property within the special188 district multiplied by that portion of the remaining proceeds w hich are received by all189 such municipalities within the special district. No portion of the tax shall be apportioned190 to counties or municipalities that do not levy an ad valorem ta x on property or do not191 have a base year value homestead exemption or adjusted base yea r value homestead192 exemption in effect.193 S. B. 382 (SUB) - 8 - 26 LC 33 9912S (f) Subject to the limitation provided for in Code Section 48-8-6, any special district which194 wholly or partially contains a jurisdiction levying the tax provided for under Article 4 of195 this chapter is authorized to levy the tax authorized under this article. Such tax authorized196 under this article may only be levied in the areas of the speci al district outside of the197 jurisdiction levying the tax provided for under Article 4 of this chapter. Any jurisdiction198 levying the tax provided for under Article 4 of this chapter shall not be considered within199 the procedure necessary to levy the tax under this article and shall not be entitled to any200 portion of said tax."201 SECTION 3-2.202 Said article is further amended by revising Code Section 48-8-109.32, relating to maximum203 period of time of the tax, submission to voters to determine im position of tax, ballot204 language, expenses of election, and resolution, as follows:205 "48-8-109.32.206 (a) Except as otherwise provided in subsection (b) of this Cod e section, the T h e207 intergovernmental agreement required by this article shall specify the maximum period of208 time of the tax, to be stated in calendar years or calendar quarters not to exceed five years209 in total; provided, however, that any intergovernmental agreement in effect on the day prior210 to the effective date of this Act may be extended by resolution of the governing authorities211 which are party to such agreement.212 (b) On and after the effective date of this Act, the intergovernmental agreement required213 by this article shall specify the maximum period of time of the tax, to be stated in calendar214 years or calendar quarters not to exceed ten years in total.215 (b) Each such intergovernmental agreement shall prescribe that the county election216 superintendent shall issue the call for an election for the purpose of submitting the question217 of the imposition of the tax authorized by this article to the voters of the county. The call218 for and conduct of any such election shall be in the manner authorized under Code Section219 S. B. 382 (SUB) - 9 - 26 LC 33 9912S 21-2-540, on a date specified by the intergovernmental agreement from among the dates220 allowed under paragraph (2) of subsection (c) of Code Section 2 1-2-540. Such election221 superintendent shall cause the date and purpose of the electio n to be published once a222 week for four weeks immediately preceding the date of the election in the legal organ of223 the county or in a newspaper having general circulation in the county at least equal to that224 of the legal organ.225 (c) The exact ballot language shall be prescribed in the inter governmental agreement226 which imposes the tax authorized by this article, but shall con tain, at a minimum, the227 purpose of the tax, the rate of the tax, and the duration for which the tax shall be imposed.228 (d) All persons desiring to vote in favor of imposing the tax shall vote 'Yes' and all persons229 opposed to levying the tax shall vote 'No.' If more than one-h alf of the votes cast are in230 favor of imposing the tax, then the tax shall be imposed as pro vided in this article;231 otherwise, the tax shall not be imposed and the question of imposing the tax shall not again232 be submitted to the voters of the special district until after 12 months immediately233 following the month in which the election was held; provided, however, that, if an election234 date authorized under paragraph (2) of subsection (c) of Code S ection 21-2-540 occurs235 during the twelfth month immediately following the month in whi ch such election was236 held, the question of imposing the tax may be submitted to the voters of the special district237 on such date. The county election superintendent shall hold and conduct the election under238 the same rules and regulations as govern special elections. Such election superintendent239 shall canvass the returns, declare the result of the election, and certify the result to the240 Secretary of State and to the commissioner. The expense of the election shall be paid from241 county funds.242 (e)(c) If no intergovernmental agreement is required pursuant to this article, the governing243 authority of the county or consolidated government whose geogra phical boundary is244 conterminous with that of the special district shall adopt a re solution which meets the245 requirements provided for in this Code section for intergovernmental agreements."246 S. B. 382 (SUB) - 10 - 26 LC 33 9912S SECTION 3-3.247 Said article is further amended by revising Code Section 48-8-109.33, relating to timing for248 imposition of tax following approval and termination of tax, as follows:249 "48-8-109.33.250 (a)(1) If the imposition of the tax is approved by referendum Following the adoption of251 a resolution or intergovernmental agreement in accordance with the provisions of this252 article, the tax shall be imposed on the date specified in such resolu tion or agreement;253 provided, however, that such date shall not be earlier than the f i r s t d a y o f t h e n e x t254 succeeding calendar quarter which begins more than 50 30 days after the date of the255 election at which the tax was approved by the voters that such resolution or agreement256 is received by the commissioner.257 (2) With respect to services that are regularly billed on a monthly basis, however, the tax258 shall apply to the first regular billing period coinciding with or following the effective259 date specified in paragraph (1) of this subsection. A certifie d copy of the260 intergovernmental agreement or and resolution required to impose the tax authorized by261 this article shall be forwarded to the commissioner to ensure i t is received within five262 business days after certification of the election results of adoption of such263 intergovernmental agreement and resolution.264 (b) The tax shall cease to be imposed on the final day of the maximum period of time265 specified for the imposition of the tax.266 (c) For any special district in which a tax authorized by this article is in effect, the General267 Assembly may pass a local Act calling for a reimposition of a t ax as authorized by this268 article upon the termination of the tax then in effect, and a referendum may be held for this269 purpose while the tax is in effect. Proceedings for such reimposition shall be in the same270 manner as proceedings for the initial imposition of the tax as provided for in Code Sections271 48-8-109.31 and 48-8-109.32. Such newly authorized tax shall not be imposed until the272 expiration of the tax then in effect."273 S. B. 382 (SUB) - 11 - 26 LC 33 9912S SECTION 3-4.274 Said article is further amended by revising Code Section 48-8-109.36, relating to distribution275 of proceeds, as follows:276 "48-8-109.36.277 The proceeds of the tax collected by the commissioner under this article shall be disbursed278 as soon as practicable after collection as follows:279 (1) One percent of the amount collected shall be paid into the general fund of the state280 treasury to defray the costs of administration; and281 (2) The remaining proceeds of the tax shall be distributed to the county whose boundary282 is conterminous with the boundary of the special district, or i n the instance of multiple283 political subdivisions, to be distributed thereafter by such county among the politica l284 subdivisions within the special district in accordance with the distribution schedule,285 which shall be prescribed in the intergovernmental agreement imposing the tax, or in the286 absence of such intergovernmental agreement, based on a pro rat a distribution287 corresponding to the relative reduction in ad valorem property tax revenues that were not288 received by each such political subdivision due to the state-wide homestead exemptions289 provided pursuant to Code Section 48-5-44.2."290 SECTION 3-5.291 Said article is further amended by revising Code Section 48-8-109.42, relating to use of tax292 proceeds, property tax relief requirements, and noncompliance, as follows:293 "48-8-109.42.294 (a) Any proceeds received by a political subdivision from the tax authorized by this article295 shall be used by such political subdivision exclusively for tax relief and in conjunction with296 all limitations provided in the intergovernmental agreement aut horizing the tax for such297 political subdivision to offset the reduction in ad valorem property tax revenues that were298 S. B. 382 (SUB) - 12 - 26 LC 33 9912S not received by such political subdivision due to the state-wid e homestead exemptions299 provided pursuant to Code Section 48-5-44.2.300 (b)(1) Each taxpayer's ad valorem tax bill shall clearly state the dollar amount by which301 the property tax has been reduced as a result of the imposition of the tax imposed under302 this article.303 (2) The roll-back rate for the political subdivision, which is calculated under Code304 Section 48-5-32.1, shall be reduced annually by the millage equ ivalent of the net305 proceeds of the tax authorized under this article, which procee ds were received by the306 political subdivision during the prior taxable year.307 (b)(1) In the event that the pro ceeds collected pursuant to this article exceed the total308 revenue necessary to provide complete offset for each political subdivision or309 subdivisions equal to the ad valorem property tax revenues that were not received by each310 such political subdivision due to the state-wide homestead exemptions provided pursuant311 to Code Section 48-5-44.2, the excess proceeds may be used to o ffset reductions in ad312 valorem property tax revenues due to property tax exemptions pr ovided by any such313 political subdivision or subdivisions for nonhomestead properties within the respective314 political subdivisions.315 (2) In the event proceeds remain following the application of paragraph (1) of this316 subsection, such excess proceeds may be used by the eligible po litical subdivision or317 subdivisions for funding all or any portion of those services which are to be provided by318 such eligible political subdivision or subdivisions pursuant to and in accordance with319 Article IX, Section II, Paragraph III of the Constitution of this state.320 (c) If any political subdivision is not in compliance with the use of the proceeds of a tax321 levied under this article, the commissioner shall not certify the tax digest of such political322 subdivision until it complies with this Code section."323 S. B. 382 (SUB) - 13 - 26 LC 33 9912S PART IV324 SECTION 4-1.325 Chapter 5 of Title 48 of the Official Code of Georgia Annotated , relating to ad valorem326 taxation of property, is amended by revising Code Section 48-5-44.2, relating to base year327 homestead exemption, as follows:328 "48-5-44.2.329 (a) For purposes of this Code section, the term:330 (1) 'Ad valorem taxes' means all ad valorem taxes levied by, for, or on behalf of the state331 or any county, consolidated government, or municipality, or local school district in this332 state, except for any ad valorem taxes levied to pay interest o n and to retire bonded333 indebtedness.334 (2) 'Adjusted base year assessed value' means the sum of:335 (A) The previous adjusted base year assessed value;336 (B) An amount equal to the difference between the current year assessed value of the337 homestead and the base year assessed value of the homestead, pr ovided that such338 amount shall not exceed the total of the previous adjusted base year assessed value of339 the homestead multiplied by the inflation rate for the prior year; and340 (C) The value of any substantial property change, provided that no such value added341 improvements to the homestead shall be duplicated as to the sam e addition or342 improvement.343 (3) 'Base year assessed value' means:344 (A) With respect to an exemption under this Code section which is first granted to a345 person on such person's homestead for the 2025 taxable year, th e assessed value for346 taxable year 2024, including any final determination of value o n appeal pursuant to347 Code Section 48-5-311, of the homestead; or348 S. B. 382 (SUB) - 14 - 26 LC 33 9912S (B) In all other cases, the assessed value, including any final determination of value on349 appeal pursuant to Code Section 48-5-311, of the homestead from the taxable year350 immediately preceding the taxable year in which the exemption under this Code section351 is first granted to the applicant.352 (4)(2) 'Homestead' means homestead as defined and qualified in Code Section 48-5-40,353 with the additional limitation that it shall include:354 (A) Only the primary residence and not more than five contiguo us acres of land355 immediately surrounding such residence; or356 (B) If the property is assessed pursuant to Code Section 48-5-7.4 or 48-5-7.7, only the357 primary residence and the portion of the underlying property that is excluded from the358 benefit of such assessment pursuant to subparagraph (a)(1)(B) of Code Section 48-5-7.4359 or subparagraph (b)(2)(B) of Code Section 48-5-7.7.360 (5) 'Inflation rate' means the annual inflationary index rate as determined for a given year361 by the commissioner in accordance with subsection (g) of this Code section.362 (6) 'Previous adjusted base year assessed value' means:363 (A) With respect to the year for which the exemption under this Code section is first364 granted to a person on such person's homestead, the base year assessed value; or365 (B) In all other cases, the adjusted base year assessed value of the homestead as366 calculated in the taxable year immediately preceding the curren t year, including any367 final determination of value on appeal pursuant to Code Section 48-5-311.368 (7) 'Substantial property change' means any increase or decrease in the assessed value369 of a homestead derived from a dditions or impr ovements to, or th e removal of real370 property from, the homestead which occurred after the year in w hich the base year371 assessed value is determined for the homestead. The assessed v alue of the substantial372 property changes shall be established following any final deter mination of value on373 appeal pursuant to Code Section 48-5-311.374 S. B. 382 (SUB) - 15 - 26 LC 33 9912S (b)(1) Subject Beginning January 1, 2027, and subject to the limitations provided in this375 Code section, each residen t of this state is granted an exempti on on that person's376 homestead from ad valorem taxes in an amount equal to:377 (A) For taxable year 2027, 10 percent of the value of the homestead;378 (B) For taxable year 2028, 20 percent of the value of the homestead;379 (C) For taxable year 2029, 30 percent of the value of the homestead;380 (D) For taxable year 2030, 40 percent of the value of the homestead; and381 (E) For taxable year 2031 and thereafter, 50 percent of the value of the homestead.382 the amount by which the current year assessed value of that hom estead, including any383 final determination of value on appeal pursuant to Code Section 48-5-311, exceeds its384 previous adjusted base year assessed value.385 (2) Except as provided for in subsection (c) of this Code section, no exemption provided386 for in this subsection shall transfer to any subsequent owner o f the property, and the387 assessed value of the property shall be as provided by law.388 (c) The surviving spouse of the person who has been granted the exemption provided for389 in subsection (b) of this Code section shall continue to receiv e the exemption provided390 under subsection (b) of this Code section, so long as such surv iving spouse continues to391 occupy the residence as a homestead.392 (d) No person shall receive the exemption granted by subsection (b) of this Code section393 unless such person or person's agent files an application with the tax receiver or tax394 commissioner of his or her respective local government or governments charged with the395 duty of receiving returns of property for taxation giving such information relative to396 receiving such exemption as will enable such tax receiver or tax commissioner to make a397 determination regarding the initial and continuing eligibility of such person for such398 exemption; provided, however, that any person who had previousl y applied for a399 homestead exemption, was allowed such homestead exemption for the 2024 2026 tax year,400 and remains eligible for a homestead exemption for that same homestead property in the401 S. B. 382 (SUB) - 16 - 26 LC 33 9912S 2025 2027 tax year shall be automatically allowed the exemption granted under subsection402 (b) of this Code section for that homestead without further application. Such tax receiver403 or tax commissioner shall provide application forms for this purpose.404 (e) The exemption granted by subsection (b) or (c) of this Code section shall be claimed405 and returned as provided in Code Section 48-5-50.1. Such exemp tion shall be406 automatically renewed from year to year so long as the owner occupies the residence as a407 homestead. After a person or a person's agent has filed the pr oper application or is408 automatically granted the homestead exemption as provided in subsection (d) of this Code409 section, it shall not be necessary for such person or such person's surviving spouse to make410 application thereafter for any year, and the exemption shall continue to be allowed to such411 person or such person's surviving spouse. It shall be the duty of any person granted the412 homestead exemption under subsection (b) or (c) of this Code se ction to notify the tax413 receiver or tax commissioner of the local government or governm ents in the event such414 person for any reason becomes ineligible for such exemption.415 (f)(1) Except as otherwise provided in paragraph (2) of this subsection, the homestead416 exemption granted by subsection (b) of this Code section shall be in addition to and not417 in lieu of any other homestead exemption applicable to ad valorem taxes.418 (2) The homestead exemption granted by subsection (b) of this Code section shall not419 be applied in addition to any other base year value homestead exemption provided by law420 with respect to the given taxing jurisdiction to which the such law applies. In any such421 event, the tax receiver or tax commissioner of the taxpayer's respective local government422 or governments charged with the duty of receiving returns of property for taxation shall423 apply only the base year value homestead exemption that is larger or more beneficial for424 the taxpayer with respect to the particular taxing jurisdiction s to which more than one425 base year value homestead exemption applies.426 (g) For the purposes of this Code section, the commissioner sh all promulgate a427 standardized method for determining annual inflationary index r ates which reflect the428 S. B. 382 (SUB) - 17 - 26 LC 33 9912S effects of inflation and deflation on the cost of living for residents of this state for a given429 calendar year. Such method may utilize the Consumer Price Inde x as reported by the430 Bureau of Labor Statistics of the United States Department of Labor or any other similar431 index established by the federal government if the commissioner determines that such432 federal index fairly reflects the effects of inflation and deflation on residents of this state.433 (h) The exemption granted by subsection (b) of this Code section shall apply to all taxable434 years beginning on or after January 1, 2025, provided that:435 (1) A constitutional amendment is ratified and becomes effecti ve on January 1, 2025,436 which authorizes the General Assembly to provide by general law for a homestead437 exemption that shall not be applicable to certain political subdivisions, which elect to opt438 out of the homestead exemption by a date certain; and439 (2) The exemption granted by subsection (b) of this Code section shall not be applicable440 for any county, consolidated government, municipality, or school district for which the441 governing authority of such political subdivision adopts an opt -out resolution in442 accordance with subsection (i) of this Code section.443 (i)(1) The governing authority of any county, consolidated government, municipality, or444 school district may elect to opt out of the homestead exemption otherwise granted by this445 Code section with respect to such political subdivision through the adoption of a446 resolution to do the same by March 1, 2025, after completing the following steps:447 (A) The governing authority shall advertise its intent to do so and shall conduct at least448 three public hearings thereon, at least one of which shall commence between the hours449 of 6:00 P.M. and 7:00 P.M., inclusive, on a business weekday. The governing authority450 shall place an advertisement in a newspaper of general circulation serving the residents451 of the political subdivision and post such advertisement on its website, which shall read452 as follows:453 S. B. 382 (SUB) - 18 - 26 LC 33 9912S 'INTENT TO OPT OUT OF HOMESTEAD EXEMPTION454 The (name of governing authority ) intends to opt out of the statewide adjusted455 base year ad valorem homestead exemption for (name of the political subdivision).456 All concerned citizens are invited to the public hearing on this matter to be held457 at (place of meeting) on (date and time).458 Times and places of additional public hearings on this matter a re at (place of459 meeting) on (date and time).'460 Simultaneously with this notice the governing authority shall provide a press release to461 the local media; and462 (B) The advertisement required by subparagraph (A) of this paragraph shall appear at463 least one week prior to each hearing, be prominently displayed, be not less than 30464 square inches, and not be placed in that section of the newspaper where legal notices465 appear and shall be posted on the appropriate website at least one week prior to each466 hearing. In addition to the advertisement specified under this paragraph, the levying467 or recommending authority may include in the notice reasons or explanations for its468 intention to opt out of the homestead exemption.469 (2) No election to opt out of the homestead exemption pursuant to this Code section shall470 become effective with respect to a political subdivision unless the procedures and471 hearings required by paragraph (1) of this subsection are completed and a copy of such472 resolution is filed with the Secretary of State by March 1, 2025.473 (3) For an election to opt out of the homestead exemption pursuant to this subsection to474 remain effective for tax years 2027 and after with respect to a political subdivision that475 does not have in effect a base year value homestead exemption or an adjusted base year476 value homestead exemption that is generally applicable to homes tead residents, the477 governing authority of such political subdivision shall complete the same procedures and478 hearings required by paragraph (1) of this subsection, except that a copy of the required479 resolution shall be filed with the Secretary of State by March 1, 2027.480 S. B. 382 (SUB) - 19 - 26 LC 33 9912S (4) The governing authority of any county, consolidated government, municipality, or481 school district that has elected to opt out of the homestead ex emption pursuant to this482 subsection may rescind such election at any time by adopting a resolution to do so and483 filing a copy of such resolution with the Secretary of State; provided, however, that such484 resolution to rescind the election to opt out shall only be effective for:485 (A) Tax year 2025 if a copy of the resolution is filed with th e Secretary of State by486 April 30, 2025; and487 (B) Any other tax year from 2026 through 2029 if a copy of the resolution is filed with488 the Secretary of State by March 1 of such year."489 SECTION 4-2.490 Said chapter is further amended in Code Section 48-5-34, relating to tax bill and procedures491 and requirements, by repealing subsection (c).492 PART V493 SECTION 5-1.494 Part 4 of Article 6 of Chapter 2 of Title 20 of the Official Co de of Georgia Annotated,495 relating to financing under the "Quality Basic Education Act," is amended in Code496 Section 20-2-164, relating to local five mill share funds, by r evising subsection (g) as497 follows:498 "(g) For purposes of calculation under this Code section and Code Section 20-2-165, the499 equalized adjusted school property tax digest, adjusted by paragraph (1) of subsection (a)500 of this Code section, shall be reduced by the sum of the following products:501 (1) The product of the number of constitutional homestead exem ptions for owner502 occupied homes pursuant to Code Section 48-5-44 granted for tha t year, exclusive of503 those homestead exemptions provided pursuant to Code Sections 48-5-47, 48-5-48, and504 S. B. 382 (SUB) - 20 - 26 LC 33 9912S 48-5-52, multiplied by the amount per exemption authorized under Code Section 48-5-44;505 provided, further, that, in any city operating an independent school system which506 provides a homestead exemption through local legislation comparable to that provided507 in Code Section 48-5-44, the product calculated in this paragra ph shall represent the508 number of homestead exemptions provided through the applicable local legislation509 multiplied by the amount per exemption authorized in Code Section 48-5-44, or by the510 amount per exemption authorized in the applicable local legisla tion, whichever is less;511 and provided, further, that, if the amount per exemption authorized in Code512 Section 48-5-44 has been changed subsequent to the year of the applicable digest, the513 more recently adopted amount per exemption shall be used for the product calculated in514 this paragraph;515 (2) The product of the number of constitutional homestead exem ptions for disabled516 veterans pursuant to Code Section 48-5-48 granted for that year, multiplied by the amount517 per exemption authorized under that Code section; provided, fur ther, that, in any city518 operating an independent school system which provides a homestead exemption through519 local legislation comparable to that provided in Code Section 4 8-5-48, the product520 calculated in this paragraph shall represent the number of home stead exemptions521 provided through the applicable local legislation multiplied by the amount per exemption522 authorized in the applicable local legislation, whichever is le ss; and provided, further,523 that, if the amount per exemption authorized in Code Section 48-5-48 has been changed524 subsequent to the year of the applicable digest, the more recen tly adopted amount per525 exemption shall be used for the product calculated in this paragraph;526 (3) The product of the estimated number of persons age 65 or older residing in the local527 school system during that year multiplied by 5,000;528 (4) The product which results from the following calculations:529 (A) Subtract the estimated state-wide percentage that persons age 65 or older is of the530 total population, excluding military personnel and institutiona l population, from the531 S. B. 382 (SUB) - 21 - 26 LC 33 9912S respective percentage for the local school system. If the respective percentage for the532 local school system is less than the state-wide percentage, a difference of zero shall be533 used in the calculations in this paragraph;534 (B) Multiply the difference which results from subparagraph (A) of this paragraph by535 1,000; and536 (C) Multiply the product which results from subparagraph (B) of this paragraph by the537 estimated number of persons age 65 or older residing in the local school system during538 that year; and539 (5) The product which results from the following calculations:540 (A) Divide the amount reported in paragraph (4) of subsection (e) of this Code section541 by the average ratio of assessed value to true value used to ca lculate the most recent542 equalized adjusted school property tax digest pursuant to Code Section 48-5-274; and543 (B) Multiply the quotient which results from subparagraph (A) of this paragraph by .4;544 (6) The difference between the assessed value and the net taxable assessed value of all545 properties for which an exemption pursuant to Code Section 48-5-44.2 was granted for546 that year;547 (7) The difference between the assessed value and the net taxable assessed value of all548 properties for which an exemption authorized pursuant to a loca l constitutional549 amendment or Article VII, Section II, Paragraph II(a) of the Constitution was granted in550 that year; and551 (8) The product of the value of all homestead property for which homestead exemptions552 pursuant to Code Section 48-5-44.2 were granted for that year, multiplied by .4."553 SECTION 5-2.554 Said part is further amended in Code Section 20-2-167.1, relati ng to public meetings on555 proposed annual operating budget, notice, electronic copies, an d exception for certain556 nonprofits, by revising subsection (b) as follows:557 S. B. 382 (SUB) - 22 - 26 LC 33 9912S "(b)(1) Each governing body shall hold at least two public meetings, which shall not558 occur within the same week, for the purpose of providing an opportunity for public input559 on its proposed annual operating budget before adopting any budget; provided, however,560 that any other public meeting or hearing held that is related to the budget as required by561 law shall satisfy all or a portion of such requirement. The go verning body of a charter562 school with a state-wide attendance zone and students residing in 25 percent or more of563 Georgia's counties or in three or more counties which are not geographically contiguous564 shall conduct one such public meeting virtually and one such pu blic meeting in the565 county in which its primary business office is located. The pu blic meetings shall be566 advertised in a local newspaper of general circulation which shall be the same newspaper567 in which other legal announcements of the board of education are advertised.568 (2)(A)(i) On and after January 1, 2027, no proposed annual ope rating budget569 resolution that would result in an increase in the revenues rai sed by the local board570 of education from the levy and collection of ad valorem property taxes by an amount571 that exceeds the greater of 3 percent or the percent change in the rate of economic572 inflation on individual taxpayers as determined under the Consumer Price Index, as573 reported by the Bureau of Labor Statistics of the United States Department of Labor,574 of the amount of such revenues raised by the local board of edu cation shall go into575 effect unless the General Assembly enacts a local Act authorizing such increase or the576 electors of the local school system have approved such budget r esolution in a577 referendum election. In calculating whether a proposed annual operating budget578 resolution would result in such an increase in the revenues raised by the local board579 of education, increases in revenue attributable to the levies o f sales and use taxes580 collected for the purpose of providing property tax relief shal l be counted, but 581 increases in revenue attributable to any assessments other than those included in the582 determination of total net assessed value added by reassessment s, as such term is583 defined in Code Section 48-5-32.1, and the levies of ad valorem property tax for costs584 S. B. 382 (SUB) - 23 - 26 LC 33 9912S incurred pursuant to a state of emergency declared by any feder al, state, or local585 emergency management agency, official, or authority shall not be counted. 586 (ii) The call for and conduct of any such election shall be in the manner authorized587 under Code Section 21-2-540. The costs of any referendum held pursuant to this588 paragraph shall be paid by the local board of education. The e xact ballot language589 shall be prescribed by the local board of education but shall contain, at a minimum,590 the projected amount of revenue to be generated by the budget resolution; the amount591 of revenue received by the local board of education in the prev ious fiscal year; and592 a statement as to whether or not such projected revenue increas e is the result of an593 increase in the levy or rate of ad valorem property taxes. All persons desiring to vote594 in favor of the budget resolution shall vote 'Yes' and all persons opposed to the budget595 resolution shall vote 'No.' If more than one-half of the votes cast are in favor of the596 budget resolution, then the budget resolution shall go into effect as provided by law;597 otherwise, the budget resolution shall either:598 (I) Not go into effect and the local board of education shall prepare a new proposed599 budget which is projected not to increase the revenues raised by the local board of600 education by an amount that exceeds the 3 percent limitation pr ovided for in this601 subparagraph; or602 (II) Go into effect and the local board of education shall be required to reduce its603 proposed budget for the subsequent year by an amount correspond ing to the604 unapproved increase exceeding the 3 percent limitation.605 (B) A local board of education shall not be required to hold either or both of the public606 meetings required under paragraph (1) of this subsection after a proposed annual607 operating budget resolution has been approved in a referendum election required under608 subparagraph (A) of this paragraph.609 (C) Nothing in this paragraph shall be construed to require that the public meetings of610 a local board of education required under paragraph (1) of this subsection shall be held611 S. B. 382 (SUB) - 24 - 26 LC 33 9912S at any particular time either prior to or following the referen dum election required612 under subparagraph (A) of this paragraph."613 SECTION 5-3.614 Title 36 of the Official Code of Georgia Annotated, relating to local government, is amended615 in Code Section 36-81-3, relating to establishment of fiscal ye ar, requirement of annual616 balanced budget, adoption of budge t ordinances or resolutions g enerally, budget617 amendments, and uniform chart of accounts, by revising subsection (d) as follows:618 "(d) Nothing contained in this Code section shall preclude a lo cal government from619 amending its budget so as to adapt to changing governmental nee ds during the budget620 period; provided, however, that, on and after January 1, 2027, no such amendment shall621 result in an increase in the revenues raised by the unit of local government from the levy622 and collection of ad valorem property taxes by an amount that e xceeds the greater of 3623 percent or the percent change in the rate of economic inflation on individual taxpayers as624 determined under the Consumer Price Index, as reported by the Bureau of Labor Statistics625 of the United States Department of Labor, of the amount of such revenues which would be626 raised by the unit of local government; provided, further, that , in calculating whether a627 proposed annual operating budget resolution would result in suc h an increase in the628 revenues raised by the local board of education, increases in r evenue attributable to the629 levies of sales and use taxes collected for the purpose of providing property tax relief shall630 be counted, but increases in revenue attributable to any assess ments other than those631 included in the determination of total net assessed value added by reassessments, as such632 term is defined in Code Section 48-5-32.1, and the levies of ad valorem property tax for633 costs incurred pursuant to a state of emergency declared by any federal, state, or local634 emergency management agency, official, or authority shall not be counted. Amendments635 shall be made as follows, unless otherwise provided by charter or local law:636 S. B. 382 (SUB) - 25 - 26 LC 33 9912S (1) Any increase in appropriation at the legal level of control of the local government,637 whether accomplished through a change in anticipated revenues in any fund or through638 a transfer of appropriations among departments, shall require t he approval of the639 governing authority. Such amendment shall be adopted by ordinance or resolution;640 (2) Transfers of appropriations within any fund below the local government's legal level641 of control shall require only the approval of the budget officer; and642 (3) The governing authority of a local government may amend the legal level of control643 to establish a more detailed level of budgetary control at any time during the budget644 period. Said amendment shall be adopted by ordinance or resolution."645 SECTION 5-4.646 Said title is further amended by revising Code Section 36-81-6, relating to adoption of budget647 ordinance or resolution and form of budget, as follows:648 "36-81-6.649 (a)(1) On a date after the conclusion of the hearing required in sub section (f) of Code650 Section 36-81-5, the governing authority shall adopt a budget o rdinance or resolution651 making appropriations in such sums as the governing authority m ay deem sufficient,652 whether greater or less than the sums presented in the proposed budget. The budget653 ordinance or resolution shall be adopted at a public meeting which shall be advertised in654 accordance with the procedures set forth in subsection (e) of C ode Section 36-81-5 at655 least one week prior to the meeting, except as otherwise provided in paragraph (2) of this656 subsection.657 (2)(A) On and after January 1, 2027, if such budget ordinance is projected to result in658 an increase in the revenues raised by the unit of local governm ent from the levy and659 collection of ad valorem property taxes by an amount that excee ds the greater of 3660 percent or the percent change in the rate of economic inflation on individual taxpayers661 as determined under the Consumer Price Index, as reported by th e Bureau of Labor662 S. B. 382 (SUB) - 26 - 26 LC 33 9912S Statistics of the United States Department of Labor, of the amo unt of such revenues663 raised by the unit of local government, then such budget ordina nce shall not go into664 effect unless the General Assembly enacts a local Act authorizing such increase or the665 electors of the unit of local government have approved such bud get ordinance in a666 referendum election. In calculating whether a proposed annual operating budget667 resolution would result in such an increase in the revenues raised by the local board of668 education, increases in revenue attributable to the levies of sales and use taxes collected669 for the purpose of providing property tax relief shall be count ed, but increases in670 revenue attributable to any assessments other than those included in the determination671 of total net assessed value added by reassessments, as such ter m is defined in Code672 Section 48-5-32.1, and the levies of ad valorem property tax for costs incurred pursuant673 to a state of emergency declared by any federal, state, or local emergency management674 agency, official, or authority shall not be counted. 675 (B) The call for and conduct of any such election shall be in the manner authorized676 under Code Section 21-2-540. The costs of any referendum held pursuant to this677 paragraph shall be paid by the unit of local government adoptin g such budget678 ordinance. The exact ballot language shall be prescribed by th e governing authority679 adopting the budget ordinance but shall contain, at a minimum, the projected amount680 of revenue to be generated by the budget ordinance; the amount of revenue received by681 the unit of local government in the previous fiscal year; and a statement as to whether682 or not such projected revenue increase is the result of an increase in the levy or rate of683 ad valorem property taxes. All persons desiring to vote in fav or of the budget684 ordinance shall vote 'Yes' and all persons opposed to the budge t ordinance shall vote685 'No.' If more than one-half of the votes cast are in favor of the budget ordinance, then686 the budget ordinance shall go into effect as provided by law; o therwise, the budget687 ordinance shall either:688 S. B. 382 (SUB) - 27 - 26 LC 33 9912S (i) Not go into effect and the unit of local government shall prepare a new proposed689 budget pursuant to Code Section 36-81-5 which is projected not to increase the690 revenues raised by the unit of local government by an amount th at exceeds the 3691 percent limitation provided for in this subsection; or692 (ii) Go into effect and the unit of local government shall be required to reduce its693 proposed budget for the subsequent year by an amount correspond ing to the694 unapproved increase exceeding the 3 percent limitation.695 (b) The budget may be prepared in any form that the governing authority deems most696 efficient in enabling it to make the fiscal policy decisions embodied in the budget, but such697 budget shall be subject to the provisions of this article."698 PART VI699 SECTION 6-1.700 Chapter 5 of Title 48 of the Official Code of Georgia Annotated , relating to ad valorem701 taxation of property, is amended by revising Code Section 48-5-32.1, relating to certification702 of assessed taxable value of property and method of computation , resolution or ordinance703 required for millage rate, and advertisement of intent to increase property tax, as follows:704 "48-5-32.1.705 (a) As used in this Code section, the term:706 (1) 'Ad valorem tax' or 'property tax' means a tax imposed upon the assessed value of real707 property.708 (2) 'Certified tax digest' means the total net assessed value on the annual property tax709 digest certified by the tax commissioner of a taxing jurisdicti on to the department and710 authorized by the commissioner for the collection of taxes, or, in the case where the711 governing authority of a county whose digest has not been approved by the commissioner712 S. B. 382 (SUB) - 28 - 26 LC 33 9912S has petitioned the superior court of the county for an order authorizing the immediate and713 temporary collection of taxes, the temporary digest so authorized.714 (3) 'Levying authority' means a county, a municipality, or a c onsolidated city-county715 governing authority or other governing authority of a political subdivision of this state716 that exercises the power to levy ad valorem taxes to carry out the governing authority's717 purposes.718 (4) 'Mill' means one one-thousandth of a United States dollar.719 (5) 'Millage' or 'millage rate' means the levy, in mills, whic h is established by the720 governing authority for purposes of financing, in whole or in part, the taxing jurisdiction's721 expenses for its fiscal year.722 (6) 'Millage equivalent' means the number of mills which would result when the total net723 assessed value added by reassessments is divided by the certified tax digest and the result724 is multiplied by the previous year's millage rate.725 (7) 'Net assessed value' means the taxable assessed value of p roperty after all726 exemptions.727 (8) 'Recommending authority' means a county, independent, or a rea school board of728 education that exercises the power to cause the levying authority to levy ad valorem taxes729 to carry out the purposes of such board of education.730 (9) 'Roll-back rate' means the previous year's millage rate minus the millage equivalent731 of the total net assessed value added by reassessments:732 (A) As calculated and certified to the commissioner by the tax commissioner for733 county and educational tax purposes; and734 (B) As calculated by the collecting officer of the municipalit y for municipal tax735 purposes.736 (10) 'Taxing jurisdiction' means all the real property subject to the levy of a specific737 levying authority or the recommended levy of a specific recommending authority.738 S. B. 382 (SUB) - 29 - 26 LC 33 9912S (11) 'Total net assessed value added by reassessments' means the total net assessed value739 added to the certified tax digest as a result of revaluation of existing real property that has740 not been improved since the previous tax digest year.741 (b) At the time of certification of the digest, the tax receiver or tax commissioner shall also742 certify to the recommending authority and levying authority of each taxing jurisdiction the743 total net assessed value added by reassessments contained in the certified tax digest for that744 tax digest year of the taxing jurisdiction.745 (c)(1) Whenever a recommending authority or levying authority shall propose to adopt746 a millage rate which does not exceed the roll-back rate, it shall adopt that millage rate at747 an advertised public meeting and at a time and place which is convenient to the taxpayers748 of the taxing jurisdiction, in accordance with the procedures specified under Code Section749 48-5-32.750 (2) In those instances in which the recommending authority or levying authority751 proposes to establish a general maintenance and operation milla ge rate which would752 require increases beyond the roll-back rate, the recommending a uthority or levying753 authority shall:754 (A) Advertise advertise its intent to do so and shall conduct at least three public755 hearings thereon, at least one of which shall commence between the hours of 6:00 P.M.756 and 7:00 P.M., inclusive, on a business weekday. The recommend ing authority or757 levying authority shall place an advertisement in a newspaper o f general circulation758 serving the residents of the unit of local government and post such advertisement on the759 website of the recommending or levying authority, which shall read as follows:760 'NOTICE OF PROPERTY TAX INCREASE761 The (name of recommending authority or levying authority) has tentatively adopted a762 millage rate which will require an increase in property taxes b y (percentage increase763 over roll-back rate) percent.764 S. B. 382 (SUB) - 30 - 26 LC 33 9912S All concerned citizens are invited to the public hearing on this tax increase to be held765 at (place of meeting) on (date and time).766 Times and places of additional public hearings on this tax incr ease are at (place of767 meeting) on (date and time).768 This tentative increase will result in a millage rate of (proposed millage rate) mills, an769 increase of (millage rate increase above the roll-back rate) mills. Without this tentative770 tax increase, the millage rate will be no more than (roll-back millage rate) mills. The771 proposed tax increase for a home with a fair market value of (average home value from772 previous year's digest rounded to the nearest $25,000.00) is approximately $(increase)773 and the proposed tax increase for nonhomestead property with a fair market value of774 (average nonhomestead property value from previous year's digest rounded to nearest775 $25,000.00) is approximately $(increase).'776 Simultaneously with this notice the recommending authority or l evying authority shall777 provide a press release to the local media; and778 (B) Notify each taxpayer with property in the taxing jurisdiction, by mail directed to779 the taxpayer's last known address, of the proposed intent to exceed the roll-back rate at780 least ten days in advance of the first public hearing. Alternatively, the recommending781 authority or levying authority may transmit the notice to the t axpayer by electronic782 means at least ten days in adva nce of the first public hearing, if such taxpayer and783 county clerk have consented in writing to service by electronic means. The county784 clerk shall consolidate the required information for all taxing subdivisions relevant to785 the taxpayer's property on one notice. The notice shall include, but not be limited to:786 (i) The roll-back rate;787 (ii) The proposed property tax revenue needed to fund the proposed budget;788 (iii) The proposed millage rate based upon the proposed budget and the current year's789 total assessed valuation;790 S. B. 382 (SUB) - 31 - 26 LC 33 9912S (iv) The millage rate and property tax of the taxing jurisdict ion on the taxpayer's791 property from the previous year's tax statement;792 (v) The proposed percent change in the millage rate between the previous year's tax793 rate and the proposed tax rate for the current year;794 (vi) The appraised value and assessed value of the taxpayer's property for the current795 year;796 (vii) The estimates of the tax for the current tax year on the taxpayer's property based797 on the roll-back rate and the proposed millage rate; and798 (viii) The dates, times, and locations of the public hearings.799 (3) The advertisement shall appear at least one week prior to each hearing, be800 prominently displayed, not be less than 30 square inches, and not be placed in that section801 of the newspaper where legal notices appear and shall be posted on the appropriate802 website at least one week prior to each hearing. In addition to the advertisement specified803 under this paragraph, the levying or recommending authority may include in the notice804 reasons or explanations for such tax increase.805 (4) The recommending authority or levying authority shall provide interested taxpayers806 of the taxing jurisdiction desiring to be heard an opportunity to present oral testimony807 within reasonable time limits and without unreasonable restrict ion on the number of808 individuals allowed to make public comment.809 (4)(5) No recommending authority shall recommend and no levying authority shall levy810 a millage rate in excess of the proposed millage rate as establ ished pursuant to811 paragraph (2) of this subsec tion without beginning anew the pro cedures and hearings812 required by this Code section and those required by Code Section 48-5-32.813 (5)(6) Any notice or hearing required under this Code section may be combined with any814 notice or hearing required under Article 1 of Chapter 81 of Tit le 36 or Code815 Section 48-5-32.816 S. B. 382 (SUB) - 32 - 26 LC 33 9912S (d) Nothing contained in this Code section shall serve to extend or authorize any millage817 rate in excess of the maximum millage rate permitted by law or to prevent the reduction of818 the millage rate.819 (e) The commissioner shall not accept a digest for review or issue an order authorizing the820 collection of taxes if the recommending authority or levying authority other than municipal821 governing authorities has established a millage rate that is in excess of the correct rollback822 without complying fully with the procedures required by this Code section. In the event823 a digest is not accepted for review by the commissioner pursuant to this subsection, it shall824 be accepted for review upon satisfactory submission by such authorities of such evidence. 825 The levies of each of the levying authorities other than the county governing authority shall826 be invalid and unenforceable until such time as the provisions of this Code section have827 been met.828 (f) Any recommending authority or levying authority that does not comply with the829 provisions of subsection (c) of this Code section shall refund to taxpayers any property830 taxes over-collected based on the amount of the levy that was i n excess of the roll-back831 rate. The provisions of this subsection shall not be construed as prohibiting any other832 remedies available under the law.833 (f)(g) The commissioner shall promulgate such rules and regulations as may be necessary834 for the administration of this Code section."835 PART VII836 SECTION 7-1.837 (a) It shall be the duty of the Secretary of State to issue the call for a nonbinding, advisory838 referendum election to determine whether the qualified electors of the State of Georgia desire839 that the Georgia General Assembly allow Georgians to decide whe ther to authorize new840 finance procedures for local governments and school systems for the purpose of providing841 S. B. 382 (SUB) - 33 - 26 LC 33 9912S complete property tax relief for homeowners. The Secretary of State shall conduct the842 referendum election as provided in this section on the date of the November, 2026, general843 election. The Secretary of State shall issue the call and conduct that referendum election as844 provided by general law.845 (b) The ballot at the referendum election provided under this section shall have displayed846 or printed thereon the following:847 "( ) YES848 849 ( ) NO850 851 Should the Georgia General Assembly allow Georgians to decide w hether to authorize new finance procedures for local governments and s chool systems for the purpose of providing complete property tax reli ef for homeowners?" (c) It shall be the duty of the Secretary of State to tabulate and certify the results of the852 referendum election and report said results to the Governor and the General Assembly853 immediately following such certification.854 PART VIII855 SECTION 8-1.856 It is the intent of the General Assembly that all sales tax rev enue collected on and after857 January 1, 2029, on the sale or lease of computer equipment to be incorporated into a facility858 or facilities in this state to a high-technology company as described in subparagraph (A) of859 paragraph (68) of Code Section 48-8-3, as it exists on December 31, 2028, shall be860 appropriated for purposes of homestead property tax relief grants to counties, municipalities,861 and local school systems pursuant to Code Section 36-89-2.862 S. B. 382 (SUB) - 34 - 26 LC 33 9912S PART IX863 SECTION 9-1.864 This Act shall become effective upon its approval by the Governor or upon its becoming law865 without such approval.866 SECTION 9-2.867 All laws and parts of laws in conflict with this Act are repealed.868 S. B. 382 (SUB) - 35 -