Georgia HB53 proposes a homestead exemption from City of Monroe ad valorem taxes for Walton County residents.

Georgia HB53 provides a homestead exemption from City of Monroe ad valorem taxes for residents in Walton County. The exemption amount is based on the assessed value of the homestead property, determined annually using the proceeds of a new Local Homestead Option Sales Tax (LHOST). The exemption applies to all ad valorem taxes imposed by the city and is in addition to any other applicable homestead exemptions. The exemption is subject to voter approval in a referendum and will become effective if approved by a two-thirds majority vote in both the Senate and the House of Representatives.

Georgia HB53 proposes a homestead exemption from City of Monroe ad valorem taxes for Walton County residents.

Georgia HB53 provides a homestead exemption from City of Monroe ad valorem taxes for residents in Walton County. The exemption amount is based on the assessed value of the homestead property, determined annually using the proceeds of a new Local Homestead Option Sales Tax (LHOST). The exemption applies to all ad valorem taxes imposed by the city and is in addition to any other applicable homestead exemptions. The exemption is subject to voter approval in a referendum and will become effective if approved by a two-thirds majority vote in both the Senate and the House of Representatives.