Georgia HB56 proposes a homestead exemption from City of Social Circle ad valorem taxes funded by a new Local Homestead Option Sales Tax (LHOST) in.

Georgia HB56 provides a homestead exemption from City of Social Circle ad valorem taxes for property owners in Walton County. 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 (LHOST). The exemption applies to all ad valorem taxes imposed by the city for all purposes. The bill includes provisions for the exemption to be in addition to any other applicable homestead exemptions.

Georgia HB56 proposes a homestead exemption from City of Social Circle ad valorem taxes funded by a new Local Homestead Option Sales Tax (LHOST) in.

Georgia HB56 provides a homestead exemption from City of Social Circle ad valorem taxes for property owners in Walton County. 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 (LHOST). The exemption applies to all ad valorem taxes imposed by the city for all purposes. The bill includes provisions for the exemption to be in addition to any other applicable homestead exemptions.