Georgia HB83 proposes a homestead exemption from Forsyth County ad valorem taxes based on a new Local Homestead Option Sales Tax.

Georgia HB83 provides a homestead exemption from Forsyth County ad valorem taxes for residents of the special district. The exemption amount is based on the assessed value of homestead property, determined annually using the proceeds of a new Local Homestead Option Sales Tax. The exemption applies to all taxable years from January 1, 2027, to December 31, 2039. To receive the exemption, residents must file an application with the local tax official. The bill also mandates an election for voter approval, with the exemption becoming effective if approved.

Georgia HB83 proposes a homestead exemption from Forsyth County ad valorem taxes based on a new Local Homestead Option Sales Tax.

Georgia HB83 provides a homestead exemption from Forsyth County ad valorem taxes for residents of the special district. The exemption amount is based on the assessed value of homestead property, determined annually using the proceeds of a new Local Homestead Option Sales Tax. The exemption applies to all taxable years from January 1, 2027, to December 31, 2039. To receive the exemption, residents must file an application with the local tax official. The bill also mandates an election for voter approval, with the exemption becoming effective if approved.