Gov. Nathan Deal recently signed legislation that would expand homestead exemptions in Decatur if approved by voters Nov. 8.
There are five separate votes for four different tax exemptions, three related to city taxes and one for school taxes. The five bills:
- *Senate Bill 339, which authorizes a referendum on increasing the basic homestead exemption from $20,000 to $25,000.
- *SB 340 allows a vote on increasing the exemption for homeowners over 65 from $1,000 to $10,000.
- * SB 341 repeals an old cap on exemption amounts.
- *SB 342 would create a new $15,000 exemption for homeowners over 62 with household income under $50,000.
- *SB 343 authorizes a vote to create an exemption from school taxes (excluding school bond taxes) for homeowners over 65.
As the Decatur Tax Blog points out, “voter approval of these measures would reduce property taxes for eligible homeowners by decreasing the taxable value of their homes.” Because it contains a sunset provision, the school exemption would expire in 2021 unless renewed.”
“Given that next November is a presidential election, it’s already a crowded ballot,” said Mayor Patti Garrett. “But we want to emphasize each bill has to be considered and voted on separately.”
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