Gov. Nathan Deal signs homestead tax legislation for Decatur
Gov. Nathan Deal has signed a package of bills related to expanding homestead tax exemptions in the city of Decatur.
The ballot questions will be considered during the general election in November.
Voters will be asked consider …
– Expanding the Decatur school homestead tax exemption to seniors 65 and older. The exemption will save seniors $993 on every $100,000 of their home’s value
– Increasing the city’s basic homestead exemption from $20,000 to $25,000
– Increasing the exemption from homeowners over 65 from $1,000 to $10,000
– A new $15,000 exemption for homeowners over 62 with a household income of less than $50,000
– Repealing an old cap on the exemptions
*Source: Decatur Tax Blog, news archives
“Voter approval of these measures would reduce property taxes for eligible homeowners by decreasing the taxable value of their homes,” a post on the Decatur Tax Blog says. “If approved on Nov. 8, 2016, homeowners would become eligible for the homestead exemptions in 2017. The new school exemption would expire in 2021 unless it is renewed.”