Georgia Senator Jen Jordan (6th District) has filed two local property tax relief bills (links to the bills appear in blue below):
SB 485 increases the Homestead exemption for City of Atlanta residents as to Atlanta Public Schools (APS) taxes from $30,000 to $50,000. This increased exemption would exempt $125,000 of the value of your home from taxation by APS for City of Atlanta residents. The increased exemption would apply only to Homestead property and only to the portion of the property tax bill associated with APS.
SB 486 creates a new Homestead exemption for City of Atlanta residents, providing a $100,000 exemption for seniors over age 65. This new exemption does not have an income requirement. It would exempt $240,000 of the value of seniors’ homes from taxation by APS.
Like many of the other property tax relief bills filed this session, SB 485 and SB 486 need to pass both chambers, receive Governor Deal’s signature, and be passed by a voter referendum in November 2018. If approved, these new exemptions would go into effective January 1, 2019.