Madison, City of; ad valorem tax; provide homestead exemption

Georgia HB20 proposes a homestead exemption from City of Madison ad valorem taxes for municipal purposes. The exemption amount is based on the assessed value of the homestead property, determined annually using the proceeds of a new 1 percent Local Homestead Option Sales Tax within Morgan County. The exemption applies to all taxable years beginning on January 1, 2027, and ending on December 31, 2039. The Act requires a referendum for approval, with the election to be conducted on the Tuesday following the first Monday in November, 2026.

Madison, City of; ad valorem tax; provide homestead exemption

Georgia HB20 proposes a homestead exemption from City of Madison ad valorem taxes for municipal purposes. The exemption amount is based on the assessed value of the homestead property, determined annually using the proceeds of a new 1 percent Local Homestead Option Sales Tax within Morgan County. The exemption applies to all taxable years beginning on January 1, 2027, and ending on December 31, 2039. The Act requires a referendum for approval, with the election to be conducted on the Tuesday following the first Monday in November, 2026.