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Official Code of Georgia Annotated

Title 48. REVENUE AND TAXATION · Chapter 5. AD VALOREM TAXATION OF PROPERTY · Article 2. PROPERTY TAX EXEMPTIONS AND DEFERRAL · Part 2. TAX DEFERRAL FOR THE ELDERLY

48-5-73. Limitations on grant of homestead tax deferral.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. No tax deferral in any one year shall be granted pursuant to Code Section 48-5-72:

  2. (1)

    If the total amount of deferred taxes and interest plus the total amount of all other unsatisfied liens on the homestead exceeds 85 percent of the fair market value of the homestead as shown on the county tax digest for the immediately preceding tax year;#

  3. (2)

    If the applicant’s gross household income for the immediately preceding calendar year exceeds $15,000.00;#

  4. (3)

    If the homestead for which the deferral is sought is subject to any lien, the terms of which are dictated by federal law, rule, or regulation prohibiting deferral of taxes; or#

  5. (4)

    With respect to taxes levied to retire bonded indebtedness or for special assessments.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 91A-2404, enacted by Ga. L. 1980, p. 1707, § 1; Ga. L. 1981, p. 1857, § 24.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t48-ch1-6-(v36)-2024-pdf.pdf, Volume V36, 2024 edition, page 547; merge action: carried; file SHA-256 bb15f8d0d693.