First Reader Summary

A BILL to amend an Act providing for a homestead exemption from all City of Gainesville independent school district ad valorem taxes for educational purposes in the amount of $10,000.00 of the assessed value of the homestead for certain residents of that school district who are 62 years of age or older and whose annual household income does not exceed $12,000.00, so as to provide a homestead exemption from such taxes for such residents who are 62 years of age but less than 75 years of age in the amount of $30,000.00 of the assessed value of the homestead if the annual household income does not exceed $25,000.00; and for other purposes.

Code Sections Amended

48-5-40 \ 48-5-50