Georgia HB31 proposes a homestead exemption from City of Damascus ad valorem taxes for the special district based on a new Local Homestead Option.
Georgia HB31 provides a homestead exemption from City of Damascus ad valorem taxes for the special district based on a new Local Homestead Option Sales Tax. The exemption applies to the assessed value of the homestead property determined annually using the net proceeds of the sales and use tax collected within the special district. The exemption is mandatory and automatic, applying to all taxable years beginning on January 1, 2027, and ending on December 31, 2039.
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