Georgia HB15 proposes a homestead exemption from City of McCaysville ad valorem taxes for residents in Fannin County.

Georgia HB15 provides a homestead exemption from City of McCaysville ad valorem taxes for residents in Fannin County. The exemption amount is based on the assessed value of the homestead property, determined annually using the proceeds of a new Local Homestead Option Sales Tax (LHOST). The exemption applies to all taxable years beginning on January 1, 2027, and ending on December 31, 2039. The bill requires an election to be held on November 2026, where a two-thirds majority vote is needed for approval.

Georgia HB15 proposes a homestead exemption from City of McCaysville ad valorem taxes for residents in Fannin County.

Georgia HB15 provides a homestead exemption from City of McCaysville ad valorem taxes for residents in Fannin County. The exemption amount is based on the assessed value of the homestead property, determined annually using the proceeds of a new Local Homestead Option Sales Tax (LHOST). The exemption applies to all taxable years beginning on January 1, 2027, and ending on December 31, 2039. The bill requires an election to be held on November 2026, where a two-thirds majority vote is needed for approval.