HB1460 - Commerce, City of; ad valorem tax for educational purposes; homestead exemption; revise

4 Co-Sponsors

A BILL to be entitled an Act to amend an Act providing a homestead exemption from City of Commerce independent school district ad valorem taxes for educational purposes in the amount of $10,000.00 of the assessed value of the homestead for certain residents of that school district who are 62 years of age or over and an additional homestead exemption in the amount of $20,000.00 of the assessed value of the homestead for certain residents of that school district who are 65 years of age or over and whose net income, excluding certain retirement income, does not exceed $18,000.00, approved April 25, 2002 (Ga. L. 2002, p. 4349), as amended; to provide for compliance with constitutional requirements; to provide for a referendum, effective dates, automatic repeal, mandatory execution of election, and judicial remedies regarding failure to comply; to repeal conflicting laws; and for other purposes.