HB1101: HB1101 Ad valorem tax; state-wide homestead tax exemption for a portion of the value of the homestead for certain senior residents; provide

26 LC 44 3296 House Bill 1101 By: Representatives Clark of the 100th, Kahaian of the 81st, Dunahoo of the 31st, Fleming of the 114th, and Reeves of the 99th A BILL TO BE ENTITLED AN ACT To amend Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad1 valorem taxation of property, so as to provide for a state-wide homestead tax exemption from2 ad valorem taxes for a portion of the value of the homestead for certain senior residents; to3 specify the terms and conditions of the exemption and the proce dures relating thereto; to4 provide for applicability; to provide for compliance with const itutional requirements; to5 provide for a referendum, effective dates, and automatic repeal ; to provide for related6 matters; to repeal conflicting laws; and for other purposes.7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:8 SECTION 1.9 Chapter 5 of Title 48 of the Official Code of Georgia Annotated , relating to ad valorem10 taxation of property, is amended in Part 1 of Article 2, relating to tax exemptions, by adding11 a new Code section to read as follows:12 "48-5-44.3.13 (a) For purposes of this Code section, the term:14 (1) 'Ad valorem taxes' means all ad valorem taxes levied by, for, or on behalf of the state15 or any county, consolidated government, municipality, or local school district in this16 H. B. 1101 - 1 - 26 LC 44 3296 state, except for any ad valorem taxes levied to pay interest o n and to retire bonded17 indebtedness.18 (2) 'Homestead' means homestead as defined and qualified in Code Section 48-5-40.19 (b)(1) Subject to the limitations provided in this Code section, each resident of this state20 who is at least 60 years of age or older on January 1 of the year in which application for21 the exemption is made is granted an exemption on such person's homestead from ad22 valorem taxes in the amount of $500,000.00 of the assessed value of that homestead.23 (2) Except as provided in subsection (c) of this Code section, no exemption provided for24 in this subsection shall transfer to any subsequent owner of the exempted homestead and25 the assessed value of such homestead shall be as provided by law.26 (c) The surviving spouse of a person who has been granted the exemption provided for in27 subsection (b) of this Code section shall continue to receive such exemption so long as such28 surviving spouse continues to occupy the residence as a homestead.29 (d) No person shall receive the exemption granted by subsection (b) of this Code section30 unless such person or such person's agent files an application with the tax receiver or tax31 commissioner of his or her respective local government or governments charged with the32 duty of receiving returns of property for taxation, and such application shall provide such33 information relative to receiving such exemption as will enable such tax receiver or tax34 commissioner to make a determination regarding the initial and continuing eligibility of35 such person for such exemption; provided, however, that any person who had previously36 applied for a homestead exemption, was allowed such homestead exemption for the 202537 tax year, and remains eligible for a homestead exemption for that same homestead in the38 2026 tax year shall be automatically allowed the exemption granted under subsection (b)39 of this Code section for that homestead without further application. The tax receiver or tax40 commissioner of such local government or governments shall prov ide application forms41 for this purpose.42 H. B. 1101 - 2 - 26 LC 44 3296 (e) The exemption granted by subsection (b) or (c) of this Code section shall be claimed43 and returned as provided in Code Section 48-5-50.1. Such exemp tion shall be44 automatically renewed from year to year so long as the owner occupies the residence as a45 homestead. After a person or a person's agent has filed the pr oper application or is46 automatically granted the homestead exemption as provided in subsection (d) of this Code47 section, it shall not be necessary for such person or such person's surviving spouse to make48 application thereafter for any year, and such exemption shall continue to be allowed to such49 person or such person's surviving spouse. It shall be the duty of any person granted the50 homestead exemption provided in subsection (b) or (c) of this Code section to notify the51 tax receiver or tax commissioner of his or her respective local government or governments52 in the event such person becomes ineligible for such exemption for any reason.53 (f)(1) Except as otherwise provided in paragraph (2) of this subsection, the homestead54 exemption provided in subsection (b) of this Code section shall be in addition to and not55 in lieu of any other homestead exemption applicable to ad valorem taxes.56 (2) The homestead exemption provided in subsection (b) of this Code section shall not57 be applied in addition to any other homestead exemption provided by law based on the58 amount by which the current year assessed value of the homestea d exceeds some prior59 value with respect to the given taxing jurisdiction to which such law applies. In any such60 event, the tax receiver or tax commissioner of the taxpayer's respective local government61 or governments charged with the duty of receiving returns of property for taxation shall62 apply only the homestead exemption that is larger or more beneficial for such taxpayer63 with respect to the particular taxing jurisdictions to which mo re than one homestead64 exemption applies.65 (g) The exemption granted by subsection (b) of this Code section shall apply to all taxable66 years beginning on or after January 1, 2027."67 H. B. 1101 - 3 - 26 LC 44 3296 SECTION 2.68 In accordance with the requirements of Article VII, Section II of the Constitution of the State69 of Georgia, this Act shall not become law unless it receives the requisite two-thirds' majority70 vote in both the Senate and the House of Representatives.71 SECTION 3.72 The Secretary of State shall call and conduct an election as provided in this section for the73 purpose of submitting this Act to the electors of the entire state for approval or rejection. The74 Secretary of State shall conduct such election no later than the Tuesday next following the75 first Monday in November, 2026, and shall issue the call and co nduct such election as76 provided by general law. The Secretary of State shall cause th e date and purpose of the77 election to be published once a week for two weeks immediately preceding the date thereof78 in the official organ of each county in the state. The ballot shall have written or printed79 thereon the words:80 "( ) YES81 ( ) NO82 83 Shall the Act be approved which provides a state-wide homestead t a x exemption from ad valorem taxes for $500,000.00 of the assessed value of the homestead for residents 60 years of age or older?" All persons desiring to vote for approval of the Act shall vote "Yes," and all persons desiring84 to vote for rejection of the Act shall vote "No." If more than one-half of the votes cast on85 such question are for approval of the Act, Section 1 of this Act shall become of full force and86 effect on January 1, 2027. If the Act is not so approved or if the election is not conducted87 as provided in this section, Section 1 of this Act shall not become effective and this Act shall88 be automatically repealed on the first day of January immediate ly following such election89 date. It shall be the duty of each county election superintendent to certify the results thereof90 to the Secretary of State.91 H. B. 1101 - 4 - 26 LC 44 3296 SECTION 4.92 All laws and parts of laws in conflict with this Act are repealed.93 H. B. 1101 - 5 -