Georgia HB78 proposes a homestead exemption from City of Tifton ad valorem taxes for municipal purposes.

Georgia HB78 seeks to provide a homestead exemption from City of Tifton ad valorem taxes in the amount of the assessed value of the homestead property. This exemption is determined annually based on the proceeds of a new 1 percent Local Homestead Option Sales Tax within Tift County. The exemption applies to all taxable years beginning January 1, 2027, and ending December 31, 2039. The Act requires a referendum for approval, which must receive a two-thirds majority vote in both the Senate and House of Representatives.

Georgia HB78 proposes a homestead exemption from City of Tifton ad valorem taxes for municipal purposes.

Georgia HB78 seeks to provide a homestead exemption from City of Tifton ad valorem taxes in the amount of the assessed value of the homestead property. This exemption is determined annually based on the proceeds of a new 1 percent Local Homestead Option Sales Tax within Tift County. The exemption applies to all taxable years beginning January 1, 2027, and ending December 31, 2039. The Act requires a referendum for approval, which must receive a two-thirds majority vote in both the Senate and House of Representatives.