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HB 741

Petrea-Stephens-Franklin-Watson Tax Relief Act; enact

2025-2026 Regular Session Introduced by Lehman Franklin and 2 co-sponsors

HB 741 offers Bryan County homeowners a homestead exemption from school taxes, reducing their tax burden and requiring voter approval for implementation in 2026.

Effective Date
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Bill Summary · HB 741

Summary of HB 741: Petrea-Stephens-Franklin-Watson Tax Relief Act

Purpose and Intent

House Bill 741, known as the Petrea-Stephens-Franklin-Watson Tax Relief Act, aims to provide financial relief to residents of the Bryan County school district by establishing a homestead exemption from ad valorem taxes levied for educational purposes. This exemption is designed to alleviate the tax burden on homeowners by allowing them to exempt a portion of their property value from taxation.

Key Provisions

  • Homestead Exemption: The bill grants a homestead exemption equal to the difference between the current year’s assessed value of a homestead and its base year assessed value.

  • Definitions:

    • Ad valorem taxes for educational purposes: Taxes levied by the Bryan County school district for educational funding, excluding those for bonded indebtedness.
    • Base year: The taxable year immediately preceding the year in which the exemption is first granted.
    • Homestead: Defined as a primary residence, including up to five contiguous acres of property.

  • Eligibility and Application:

    • Residents must apply to the Bryan County tax commissioner to receive the exemption.
    • The exemption will automatically renew each year as long as the homeowner occupies the residence.
    • Surviving spouses of eligible homeowners can continue to receive the exemption.

  • Exemption Limitations: The exemption does not apply to taxes on improvements made to the homestead or additional land added after the base year.

  • Effective Date: The exemption will apply to all taxable years beginning January 1, 2026, contingent upon voter approval.

Affected Parties

  • Residents of Bryan County: Homeowners within the Bryan County school district will benefit from reduced property taxes.
  • Bryan County School District: The district will need to adjust its tax revenue expectations based on the exemptions granted.

Procedural Aspects

  • Voter Approval: The bill requires a referendum to be held on the Tuesday following the first Monday in November 2025. Voters will decide whether to approve the homestead exemption.
  • Election Process: The election superintendent of Bryan County is responsible for conducting the election and ensuring compliance with the law. If the measure is approved by a majority vote, the exemption will take effect on January 1, 2026. If not approved, the bill will be automatically repealed one year after the election.

Legislative Timeline

  • Introduced: March 6, 2025
  • Passed by House: March 18, 2025
  • Passed by Senate: March 27, 2025
  • Signed by Governor: May 9, 2025
  • Effective Date: May 9, 2025, with provisions taking effect January 1, 2026, upon voter approval.

This summary provides an overview of HB 741, highlighting its intent to provide tax relief to homeowners in Bryan County through a homestead exemption, the key provisions of the bill, and the necessary steps for implementation.

Compiled from official sources — confirm details with the bill’s official record.

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