Georgia Authorizes Spalding County Homestead Property Tax Exemption, Subject to Voter Approval

The Georgia Governor signed a law concerning a homestead property tax exemption. The law includes: 1) providing a homestead exemption from Spalding County school district ad valorem taxes for educational purposes in a graduated amount on the assessed value of the homestead for residents of the school district who are 65 years of age or older and based upon their income, excluding certain retirement income; 2) requiring voter approval of the exemption in the November election; and 3) providing that the exemption is applicable to taxable years beginning on or after Jan. 1, 2026. The law took effect May 13. ...