36-89-4. Procedure for allotment; conditions of grant; taxpayer notice.

1. (1)

   When funds are appropriated as provided in Code Section 36-89-3, such grants shall be allotted to each county, municipality, and county or independent school district in the state as follows:#

   1. (A)

      Immediately following the actual preparation of ad valorem property tax bills, each county fiscal authority shall notify the Department of Revenue of the total amount of tax revenue which would be generated by applying the sum of the state and county millage rates to the eligible assessed value of each qualified homestead in the county. The total amount of actual tax credits, so calculated, given to all qualified homesteads in the county shall be the amount of the grant to that county;#

   2. (B)

      Immediately following the actual preparation of ad valorem property tax bills, each county or independent school district’s fiscal authority shall notify the Department of Revenue of the total amount of tax revenue which would be generated by applying the school millage rate to the eligible assessed value of each qualified homestead in the county or independent school district. The total amount of actual tax credits, so calculated, given to all qualified homesteads in the county or independent school district shall be the amount of the grant to that county or independent school district; and#

   3. (C)

      Immediately following the actual preparation of ad valorem property tax bills, each municipality’s fiscal authority shall notify the Department of Revenue of the total amount of tax revenue which would be generated by applying the municipal millage rate to the eligible assessed value of each qualified homestead in the municipality. The total amount of actual tax credits, so calculated, given to all qualified homesteads in the municipality shall be the amount of the grant to that municipality.#

2. (2)

   Credit amounts computed under paragraph (1) of this subsection shall be applied to reduce the otherwise applicable tax liability on a dollar-for-dollar basis, but the credit granted shall not in any case exceed the amount of the otherwise applicable tax liability after the granting of all applicable homestead exemptions except for any homestead exemption under Article 2A of Chapter 8 of Title 48, the “Homestead Option Sales and Use Tax Act,” as amended, and after the granting of all applicable millage rollbacks.#

The grant of funds to each county shall be conditioned on the county’s fiscal authority reducing each qualified homestead’s otherwise applicable liability for county taxes for county purposes by a credit amount calculated in subparagraph (a)(1)(A) of this Code section.#

The grant of funds to each county or independent school district shall be conditioned on the county or independent school district’s fiscal authority reducing each qualified homestead’s otherwise applicable liability for school taxes by a credit amount calculated in subparagraph (a)(1)(B) of this Code section.#

The grant of funds to each municipality shall be conditioned on the municipality’s fiscal authority reducing each qualified homestead’s otherwise applicable liability for municipal taxes by a credit amount calculated in subparagraph (a)(1)(C) of this Code section.#

Each fiscal authority shall show the credit amount on the tax bill, together with a prominent notice in substantially the following form: “This reduction in your bill is the result of homeowner’s tax relief enacted by the Governor and the General Assembly of the State of Georgia.”#