Georgia HB51 proposes a homestead exemption from Troup County ad valorem taxes.

Georgia HB51 provides a homestead exemption from Troup County ad valorem taxes in the amount of the assessed value of the homestead property. This exemption is funded by a new Local Homestead Option Sales Tax (LHOST) within the special district. The exemption applies to all taxable years beginning January 1, 2027, and ending December 31, 2039. The bill includes provisions for definitions, applicability, compliance, and repeal of conflicting laws. The exemption requires voter approval in a referendum.

Georgia HB51 proposes a homestead exemption from Troup County ad valorem taxes.

Georgia HB51 provides a homestead exemption from Troup County ad valorem taxes in the amount of the assessed value of the homestead property. This exemption is funded by a new Local Homestead Option Sales Tax (LHOST) within the special district. The exemption applies to all taxable years beginning January 1, 2027, and ending December 31, 2039. The bill includes provisions for definitions, applicability, compliance, and repeal of conflicting laws. The exemption requires voter approval in a referendum.