ATLANTA (March 7, 2018) | Sen. Jen Jordan (D – Atlanta) today filed two Senate Bills that would increase certain homestead tax exemptions and establish a new homestead exemption.
“Our community recently saw a major increase in our assessed home values, which in turn increased our taxes,” said Sen. Jordan. “This came with no warning or explanation, and it does not make sense for residents to suffer the consequences of a mistake they had no hand in creating. Senate Bills 485 and 486 will relieve some of the unexpected burden that so many homeowners are now facing. I look forward to moving these through the General Assembly before the end of this session.”
Senate Bill 485 would increase the homestead exemption from $30,000 to $50,000, exempting $125,000 of a home’s value from school taxes. Senate Bill 486 would establish a new homestead exemption of $100,000 for seniors, regardless of income, exempting $240,000 of a home’s value from school taxes.
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For Immediate Release:
March 7, 2018
Annie Wimbush, Communications Associate
annie.wimbush@senate.ga.gov
404.656.0028