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Georgia Senate Proposes $100K Tax Exemption For Atlanta Seniors

Bill 439 has been sent to the Georgia House of Representatives for approval.

The Georgia State Senate recently passed a bill that could result in a major tax break for some Atlanta seniors. 

On Feb. 13, it passed Bill 439, which provides a homestead tax exemption to homeowners 65 or older living within the city limits. Qualified homeowners must have a single or combined income that does not exceed $100,000 annually. If eligible, homeowners would be exempt from paying the ad valorem taxes that fund Atlanta City Schools. The bill is sponsored by Democratic Sen. Jason Esteves, who says it will help provide some relief to seniors grappling with Atlanta’s rising property tax costs.

“As we work towards fairness and prosperity for all, I’m honored to champion this initiative that directly benefits our constituents in the City of Atlanta. I extend my gratitude to my Senate colleagues for their support, and I eagerly anticipate its approval in the House,” Esteves said in a press release. 

To be granted a homestead exemption, residents must live in the home and have established legal residence at the address. If a person lives outside the house for medical reasons, they will still receive the exemption if they notify the tax commissioner of their status. 

The Georgia bill also states that the maximum amount of homestead exemptions shall not exceed $10 million annually.

“If the total exceeds $10 million in the aggregate for that taxable year, the governing authority or its designee shall calculate the amount by which the total exceeds $10 million and shall reduce the amount of homestead exemptions claimed by such senior citizens in an amount equal to such difference.”  

If the bill passes both chambers of the Georgia General Assembly, it will be signed into law by Georgia Gov. Brian Kemp and will go into effect on Jan. 1, 2025.