SB89.html

To provide for a homestead exemption from certain City of Powder Springs ad valorem taxes for municipal purposes in an amount equal to the amount by which the current year assessed value of a homestead exceeds the base year assessed value of such homestead; to provide for definitions; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for a referendum, effective dates, and automatic repeal; to repeal conflicting laws; and for other purposes.

As used in this Act, the term:
(1) "Ad valorem taxes for municipal purposes" means all municipal ad valorem taxes for municipal purposes levied by, for, or on behalf of the City of Powder Springs, including, but not limited to, taxes to pay interest on and to retire municipal bonded indebtedness.
(2) "Base year" means the taxable year immediately preceding the taxable year in which the exemption under this Act is first granted to the most recent owner of such homestead.
(3) "Homestead" means homestead as defined and qualified in Code Section 48-5-40 of the O.C.G.A., with the additional qualification that it shall include only the primary residence and not more than five contiguous acres of land immediately surrounding such residence.

Each resident of the City of Powder Springs is granted an exemption on that person´s homestead from all City of Powder Springs ad valorem taxes for municipal purposes in an amount equal to the amount by which the current year assessed value of that homestead exceeds the base year assessed value of that homestead. This exemption shall not apply to taxes assessed on improvements to the homestead or additional land that is added to the homestead after January 1 of the base year. If any real property is removed from the homestead, the base year assessed value shall be recalculated accordingly. The value of that property in excess of such exempted amount shall remain subject to taxation.

A person shall not receive the homestead exemption granted by Section 2 of this Act unless the person or person´s agent files an application with the governing authority of the City of Powder Springs, or the designee thereof, giving such information relative to receiving such exemption as will enable the governing authority of the City of Powder Springs, or the designee thereof, to make a determination as to whether such owner is entitled to such exemption.

The governing authority of the City of Powder Springs, or the designee thereof, shall provide application forms for the exemption granted by Section 2 of this Act which shall require such information as may be necessary to determine the initial and continuing eligibility of the owner for the exemption.

The exemption shall be claimed and returned as provided in Code Section 48-5-50.1 of the O.C.G.A. The exemption shall be automatically renewed from year to year as long as the owner occupies the residence as a homestead. After a person has filed the proper application as provided in Section 3 of this Act, it shall not be necessary to make application thereafter for any year and the exemption shall continue to be allowed to such person. It shall be the duty of any person granted the homestead exemption under Section 2 of this Act to notify the governing authority of the City of Powder Springs, or the designee thereof, in the event that person for any reason becomes ineligible for that exemption.

The exemption granted by this Act shall not apply to or affect state ad valorem taxes, county ad valorem taxes for county purposes, or county or independent school district ad valorem taxes for educational purposes. The homestead exemption granted by Section 2 of this Act shall be in addition to and not in lieu of any other homestead exemption applicable to municipal ad valorem taxes.

Unless prohibited by the federal Voting Rights Act of 1965, as amended, the municipal election superintendent of City of Powder Springs shall call and conduct an election as provided in this section for the purpose of submitting this Act to the electors of the City of Powder Springs for approval or rejection. The municipal election superintendent shall conduct that election on the Tuesday after the first Monday in November, 2001, and shall issue the call and conduct that election as provided by general law. The municipal superintendent shall cause the date and purpose of the election to be published once a week for two weeks immediately preceding the date thereof in the official organ of Cobb County. The ballot shall have written or printed thereon the words:

"( ) YES

( ) NO

Shall the Act be approved which provides a homestead exemption from certain City of Powder Springs ad valorem taxes for municipal purposes in an amount equal to the amount by which the current year assessed value of a homestead exceeds the base year assessed value of such homestead?"

All persons desiring to vote for approval of the Act shall vote "Yes," and those persons desiring to vote for rejection of the Act shall vote "No." If more than one-half of the votes cast on such question are for approval of the Act, Sections 1 through 7 of this Act shall become of full force and effect on January 1, 2002. If the Act is not so approved or if the election is not conducted as provided in this section, Sections 1 through 7 this Act shall not become effective and this Act shall be automatically repealed on the first day of January immediately following that election date. The expense of such election shall be borne by the City of Powder Springs. It shall be the municipal election superintendent´s duty to certify the result thereof to the Secretary of State.

Except as otherwise provided in Section 8 of this Act, this Act shall become effective upon its approval by the Governor or upon its becoming law without such approval.