Georgia HB62 proposes a homestead exemption from City of Cochran ad valorem taxes for Bleckley County residents.

Georgia HB62 proposes a homestead exemption from City of Cochran ad valorem taxes for Bleckley County residents. 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. The exemption applies to all ad valorem taxes imposed by the city for all purposes. The bill requires an election to be held on November 2026, where the Act will become effective if approved by more than half of the votes cast. If not approved, the Act will be automatically repealed.

Georgia HB62 proposes a homestead exemption from City of Cochran ad valorem taxes for Bleckley County residents.

Georgia HB62 proposes a homestead exemption from City of Cochran ad valorem taxes for Bleckley County residents. 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. The exemption applies to all ad valorem taxes imposed by the city for all purposes. The bill requires an election to be held on November 2026, where the Act will become effective if approved by more than half of the votes cast. If not approved, the Act will be automatically repealed.