Georgia HB82 proposes a homestead exemption from Telfair County ad valorem taxes for a decade, funded by a new Local Homestead Option Sales Tax.

Georgia HB82 seeks to provide a homestead exemption from Telfair County ad valorem taxes, funded by a new Local Homestead Option Sales Tax (LHOST). This exemption applies to the assessed value of homestead property within the special district, based on the net proceeds of the LHOST. The exemption is mandatory and applies to all taxable years from January 1, 2027, to December 31, 2036. The bill includes provisions for an election to approve the Act, which must receive a two-thirds majority vote in both the Senate and the House of Representatives.

Georgia HB82 proposes a homestead exemption from Telfair County ad valorem taxes for a decade, funded by a new Local Homestead Option Sales Tax.

Georgia HB82 seeks to provide a homestead exemption from Telfair County ad valorem taxes, funded by a new Local Homestead Option Sales Tax (LHOST). This exemption applies to the assessed value of homestead property within the special district, based on the net proceeds of the LHOST. The exemption is mandatory and applies to all taxable years from January 1, 2027, to December 31, 2036. The bill includes provisions for an election to approve the Act, which must receive a two-thirds majority vote in both the Senate and the House of Representatives.