Georgia HB71 proposes a homestead exemption from City of Blackshear ad valorem taxes funded by a new Local Homestead Option Sales Tax.

Georgia HB71 proposes a homestead exemption from City of Blackshear ad valorem taxes, funded by a new Local Homestead Option Sales Tax. The exemption applies to the assessed value of the homestead property, determined annually based on the net proceeds of the sales and use tax. The bill requires an election for approval, with the exemption becoming effective if approved by a majority vote. The exemption applies to all taxable years from 2027 to 2039 and is renewable annually if the homeowner remains eligible.

Georgia HB71 proposes a homestead exemption from City of Blackshear ad valorem taxes funded by a new Local Homestead Option Sales Tax.

Georgia HB71 proposes a homestead exemption from City of Blackshear ad valorem taxes, funded by a new Local Homestead Option Sales Tax. The exemption applies to the assessed value of the homestead property, determined annually based on the net proceeds of the sales and use tax. The bill requires an election for approval, with the exemption becoming effective if approved by a majority vote. The exemption applies to all taxable years from 2027 to 2039 and is renewable annually if the homeowner remains eligible.