Georgia HB2 proposes a homestead exemption from Sumter County ad valorem taxes, funded by a new Local Homestead Option Sales Tax (LHOST).

Georgia HB2 seeks to provide a homestead exemption from Sumter County ad valorem taxes, funded by a new 1 percent Local Homestead Option Sales Tax (LHOST). This exemption applies to the assessed value of homestead property within the special district. The exemption is automatic for eligible residents and does not require annual application. The bill outlines the terms and conditions of the exemption, including its duration and applicability. A referendum is required for the Act to become law, with the election to be conducted by the election superintendent.

Georgia HB2 proposes a homestead exemption from Sumter County ad valorem taxes, funded by a new Local Homestead Option Sales Tax (LHOST).

Georgia HB2 seeks to provide a homestead exemption from Sumter County ad valorem taxes, funded by a new 1 percent Local Homestead Option Sales Tax (LHOST). This exemption applies to the assessed value of homestead property within the special district. The exemption is automatic for eligible residents and does not require annual application. The bill outlines the terms and conditions of the exemption, including its duration and applicability. A referendum is required for the Act to become law, with the election to be conducted by the election superintendent.