Georgia HB55 proposes a homestead exemption from City of Valdosta ad valorem taxes, funded by a new Local Homestead Option Sales Tax.

Georgia HB55 provides a homestead exemption from City of Valdosta ad valorem taxes, funded by a new Local Homestead Option Sales Tax. The exemption applies to eligible residents within the special district, which is conterminous with Lowndes County. The exemption amount is based on the assessed value of the homestead property. The bill requires an election to be held for approval or rejection by the city's electors. If approved, the exemption will become effective on January 1, 2027, and will be automatically renewed annually.

Georgia HB55 proposes a homestead exemption from City of Valdosta ad valorem taxes, funded by a new Local Homestead Option Sales Tax.

Georgia HB55 provides a homestead exemption from City of Valdosta ad valorem taxes, funded by a new Local Homestead Option Sales Tax. The exemption applies to eligible residents within the special district, which is conterminous with Lowndes County. The exemption amount is based on the assessed value of the homestead property. The bill requires an election to be held for approval or rejection by the city's electors. If approved, the exemption will become effective on January 1, 2027, and will be automatically renewed annually.