Georgia Governor Signs Law Providing Property Tax Homestead Exemption for City of Atlanta Senior Citizens

The Georgia Governor May 6 signed a law providing a homestead exemption from the City of Atlanta independent school district property taxes for senior citizens for educational purposes. The law provides: 1) an exemption to residents 65 years and older in the amount of $100,000 of the assessed value of the homestead and whose income does not exceed that amount; and 2) an annual maximum amount of homestead exemptions not exceeding $10 million. The law took effect May 6. [S.B. 439, enacted 05/06/24]

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