Georgia Enacts Local Homeowner’s Incentive Adjustment Grant Program

The Georgia Governor signed a law that includes: 1) authorizing the establishment of local homeowner’s incentive adjustment grant programs; 2) providing for the determination of the amount of funds in a local government homeowner’s incentive adjustment grant fund and calculation of the amount of the adjustment credit that may be provided from the fund to each qualified homestead in the locality up to a taxpayer’s ad valorem property tax liability on their homestead; and 3) providing for a certain tax credit to be given to each qualified homestead to be applied to offset otherwise applicable tax liability. The law takes ...