Georgia HB17 proposes a homestead exemption from Lumpkin County ad valorem taxes using a new Local Homestead Option Sales Tax.

Georgia HB17 provides a homestead exemption from Lumpkin County ad valorem taxes, funded by a new Local Homestead Option Sales Tax (LHOST). This exemption applies to the assessed value of homestead property based on sales tax proceeds. The exemption is available to residents of the special district, which is conterminous with Lumpkin County. The exemption is automatic and renewable annually if the resident remains eligible. The bill includes provisions for an election to approve the Act, effective dates, and automatic repeal if not approved.

Georgia HB17 proposes a homestead exemption from Lumpkin County ad valorem taxes using a new Local Homestead Option Sales Tax.

Georgia HB17 provides a homestead exemption from Lumpkin County ad valorem taxes, funded by a new Local Homestead Option Sales Tax (LHOST). This exemption applies to the assessed value of homestead property based on sales tax proceeds. The exemption is available to residents of the special district, which is conterminous with Lumpkin County. The exemption is automatic and renewable annually if the resident remains eligible. The bill includes provisions for an election to approve the Act, effective dates, and automatic repeal if not approved.