09 LC 18 7960
Senate
Bill 83
By:
Senators Rogers of the 21st, Williams of the 19th, Chance of the 16th, Pearson
of the 51st, Hill of the 4th and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of
Georgia Annotated, relating to tax exemptions, so as to increase the amount of
the state-wide homestead exemption from all ad valorem taxation for state,
county, and school purposes from $2,000.00 to $4,000.00 with automatic future
adjustments; to specify the terms and conditions of the exemption and the
procedures relating thereto; to provide for applicability; to provide for a
special election; to provide for automatic repeal under certain circumstances;
to provide for effective dates; to provide for applicability; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Part
1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia
Annotated, relating to tax exemptions, is amended by revising Code Section
48-5-44, relating to the state-wide $2,000.00 homestead exemption from state,
county, and school district ad valorem taxes, as follows:
"48-5-44.
(a)
The homestead of each resident of this state actually occupied by the owner as a
residence and homestead shall be exempted from all ad valorem taxation for
state, county, and school purposes, except taxes levied by municipalities for
school purposes and except to pay interest on and to retire bonded indebtedness,
for as long as the residence and homestead is actually occupied by the owner
primarily as a residence and homestead. The exemption shall not exceed
$2,000.00
$4,000.00
of the value of the homestead
for the
taxable year beginning January 1, 2009. For all taxable years beginning on or
after January 1, 2010, the exemption amount shall be increased by a
percentage equal to the cost-of-living index. No adjustment shall be made in
any year in which the cost-of-living index decreases from the percentage amount
of such index for the preceding year. The commissioner shall establish and
maintain rules governing cost-of-living adjustments. Such rules shall include
the determination and use of an appropriate cost-of-living index which reflects
the effects of inflation and deflation on persons receiving benefits in the
State of Georgia. The rules may use for this purpose the Consumer Price Index as
reported by the Bureau of Labor Statistics of the United States Department of
Labor or any other similar index established by the federal government, if the
commissioner determines that such federal index reflects the effects of
inflation and deflation on persons receiving benefits in the State of
Georgia.
(b)
Should the owner of a dwelling house on a farm who is already entitled to a
homestead exemption participate in the program of rural housing and obtain a new
house under contract with the local housing authority,
he
such
owner shall be entitled to receive the
same homestead exemption as allowed before making the contract.
(c)
Except as otherwise specifically provided by law, the value of all homestead
property in excess of
$2,000.00
the amount
exempted under subsection (a) of this Code
section shall remain subject to taxation.
The exemption shall be returned and claimed in the manner prescribed by law.
This exemption shall not apply to taxes levied by
municipalities."
SECTION
2.
Unless
prohibited by the federal Voting Rights Act of 1965, as amended, the Secretary
of State shall call and conduct a special election as provided in this section
for the purpose of submitting this Act to the electors of the State of Georgia
for approval or rejection. The Secretary of State shall conduct that special
election on the third Tuesday in September, 2009. The Secretary of State shall
issue the call and conduct that special election as provided by general law.
The Secretary of State shall cause the date and purpose of the special election
to be published in the official organ of each county in the state once a week
for two weeks immediately preceding the date of the special election. The
ballot shall have written thereon the following:
|
"( ) YES
( ) NO
|
Shall
the Act be approved which increases the state-wide ad valorem tax exemption from
all ad valorem taxation for state, county, and school purposes from $2,000.00 to
$4,000.00 with automatic future adjustments?"
|
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, then
Section 1 of this Act shall become effective immediately and shall be applicable
to all taxable years beginning on or after January 1, 2009. If the Act is not
so approved or if the special election is not conducted as provided in this
section, Section 1 of this Act shall not become effective and this Act shall be
automatically repealed on the first day of January immediately following that
special election date.
SECTION
3.
Except
as otherwise provided in Section 2 of this Act, this Act shall become effective
upon its approval by the Governor or upon its becoming law without such
approval.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.