Georgia HB16 proposes a homestead exemption from City of Blue Ridge ad valorem taxes for residents of Fannin County.
Georgia HB16 provides a homestead exemption from City of Blue Ridge ad valorem taxes for residents of Fannin County. This exemption is funded by a new 1 percent Local Homestead Option Sales Tax (LHOST) within the special district. The exemption applies to the assessed value of the homestead property, determined annually based on the net proceeds of the LHOST. The bill outlines the terms and conditions of the exemption, including its applicability and renewal process.
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