Georgia Statewide Homestead Property Tax Exemption Increase Measure (2024)

Georgia Statewide Homestead Property Tax Exemption Increase Measure
Election date November 5, 2024
Topic Taxes and Property
Status Not on the ballot
Type State statute	Origin State legislature

The Georgia Statewide Homestead Property Tax Exemption Increase Measure was not on the ballot in Georgia as a legislatively referred state statute on November 5, 2024.

The measure would have increased the statewide homestead property tax exemption from $2,000 to $4,000. The property tax exemption exempts properties occupied by owners as a primary residence and homestead from taxation for state, county, and school purposes. Taxes may still be levied by municipalities for school purposes to pay interest on and to retire bonded indebtedness.

The full text of the proposed amendment as passed by the state legislature and the ballot language for the amendment reference included different amounts of the proposed exemption amount. The bill was ultimately vetoed by the governor due to the discrepancy.

Text of the measure

Note: The full text of the proposed amendment as passed by the state legislature and the ballot language for the amendment reference included different amounts of the proposed exemption amount. The bill was ultimately vetoed by the governor due to the discrepancy.

Ballot title

The ballot title for the amendment as provided in HB 1019 is displayed below:

“

Shall the Act be approved which increases from $2,000.00 to $10,000.00 a statewide homestead exemption from ad valorem taxes for state, county, and school purposes, other than municipal school purposes and other than to pay interest on and retire bonded indebtedness, for a homestead occupied by its owner?

”

Full text

The amendment would have amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated. The following underlined text would have been added and struck-through text would have been deleted:

“

The homestead of each resident of this state actually occupied by the owner as a residence and homestead shall be exempted from all ad valorem taxation for state, county, and school purposes, except taxes levied by municipalities for school purposes and except to pay interest on and to retire bonded indebtedness, for as long as the residence and homestead is actually occupied by the owner primarily as a residence and homestead. The exemption shall not exceed $2,000.00 $4,000.00 of the value of the homestead. Should the owner of a dwelling house on a farm who is already entitled to a homestead exemption participate in the program of rural housing and obtain a new house under contract with the local housing authority, he or she shall be entitled to receive the same homestead exemption as allowed before making the contract. Except as otherwise specifically provided by law, the value of all homestead property in excess of $2,000.00 $4,000.00 shall remain subject to taxation. The exemption shall be returned and claimed in the manner prescribed by law. This exemption shall not apply to taxes levied by municipalities.

”

Support

Supporters

Officials

• State Rep. Shaw Blackmon (R)
• State Rep. Jan Jones (R)
• State Rep. David Knight (R)
• State Rep. Matt Reeves (R)
• State Rep. Deborah Silcox (R)

Arguments

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Opposition

Ballotpedia did not locate a campaign in opposition to the ballot measure.

Arguments

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Background

Homestead property tax exemptions in Georgia

A homestead property tax exemption reduces the amount of property taxes that a homeowner owes on their residence.

The Georgia State Legislature referred a constitutional amendment to the 2024 ballot that was designed to amend the state constitution to provide for a local option homestead property tax exemption and allow a county, municipality, or school system to opt out of the exemption.

The following conditions must be met to qualify for a homestead exemption in Georgia:

• ownership of the property must be established as of January 1;
• the property must be designated as the individual's legal residence for all purposes;
• the individual must physically occupy the home; and
• the individual can not be currently claiming a homestead exemption for another property, whether within Georgia or in any other state.

Georgia offers the following state and county homestead exemptions:

• The Standard Homestead Exemption, which provides a $2,000 deduction from the assessed value of the primary residence for county and school taxes, with certain exceptions.
• Individuals aged 65 and older may claim a $4,000 exemption from all county ad valorem taxes if their income is below $10,000 per year, with exclusions for social security income.
• Individuals aged 62 and older may claim an additional exemption for taxes with educational purposes (including to retire school bond debt), if the individual's income is below $10,000.
• The Floating Inflation-Proof Exemption is available for individuals aged 62 and older, allowing for an exemption based on natural increases in the home's value and that is available if the home has increased in appraised value by $10,000 or more;
• Disabled veterans or their surviving spouses are eligible for exemptions as well as surviving spouses of U.S. service members or peace officers/firefighters killed in the line of duty are granted exemptions from ad valorem taxes, with specific amounts determined by law.

County local homestead exemptions

The Georgia Constitution allows counties to enact local homestead exemptions. The following 36 counties have enacted an exemption that freezes the valuation of the property at the base year valuation as long as the homeowner continues to live at the residence: