Georgia Creates LHOST, Revises Homestead Exemption Rules

The Georgia Governor signed a law amending the state’s property tax rules. The law establishes a new Local Homestead Option Sales Tax (LHOST) regime, revises the statewide base-year homestead exemption framework, changes school funding digest calculations, limits the timing of revenue-related special elections, and restricts retroactive property tax assessments tied to erroneous homestead exemptions not caused by taxpayer misconduct. The law took effect on May 11. [S.B. 33, enacted 05/11/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.