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HB 780

REGULATION-TECH

104th Regular Session Introduced by Chris Welch

House Bill 780 offers Greensboro homeowners a tax exemption on property value increases, easing their financial burden and making housing more affordable.

Rule 19(a) / Re-referred to Rules Committee
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Bill Summary · HB 780

Summary of House Bill 780: Relating to Desalination

Purpose and Intent

House Bill 780 aims to provide a homestead exemption from ad valorem taxes for municipal purposes in the City of Greensboro, Georgia. The exemption is designed to alleviate the tax burden on residents by allowing them to benefit from a reduction in property taxes based on the assessed value of their homestead.

Key Provisions

The bill includes several important provisions:

  1. Definitions:

    • Ad valorem taxes: Taxes levied by the City of Greensboro for municipal purposes, excluding those for bonded indebtedness.
    • Adjusted base year assessed value: Calculated based on the previous adjusted base year value, current year assessed value, and any substantial property changes.
    • Homestead: Defined as a primary residence, including up to one contiguous acre of property.

  2. Exemption Details:

    • Residents are granted an exemption equal to the difference between the current year assessed value and the previous adjusted base year assessed value.
    • The exemption does not transfer to subsequent owners of the property.

  3. Application Process:

    • Residents must apply for the exemption, but those who were previously granted a homestead exemption for the 2025 tax year will be automatically eligible for the 2026 tax year without reapplication.
    • The governing authority of Greensboro will provide necessary application forms.

  4. Renewal and Eligibility:

    • The exemption is automatically renewed each year as long as the individual continues to occupy the residence as a homestead.
    • Surviving spouses of exempt individuals can continue to receive the exemption if they remain in the home.

  5. Limitations:

    • The exemption does not apply to state or county ad valorem taxes for educational purposes.
    • It is in addition to other homestead exemptions but cannot be combined with other base year value exemptions.

  6. Inflation Adjustment:

    • The bill mandates the commissioner of revenue to establish a method for determining annual inflationary index rates that will affect the calculation of the adjusted base year assessed value.

Affected Parties

The primary beneficiaries of this bill are residents of the City of Greensboro who own homesteads. The legislation aims to provide financial relief to homeowners by reducing their property tax obligations.

Procedural Timeline

  • Introduced: March 18, 2025
  • Passed House: March 27, 2025
  • Passed Senate: March 31, 2025
  • Signed by Governor: May 9, 2025
  • Effective Date: May 9, 2025

Conclusion

House Bill 780 represents a significant step towards providing tax relief for homeowners in Greensboro, Georgia. By establishing a homestead exemption based on assessed property values, the bill seeks to make housing more affordable and support local residents in managing their financial responsibilities.

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

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