08 SB325/AP
Senate
Bill 325
By:
Senator Reed of the 35th
AS
PASSED
AN
ACT
To
amend an Act to provide a homestead exemption from City of Atlanta ad valorem
taxes for municipal purposes, approved April 19, 2000 (Ga. L. 2000, p. 4462), so
as to increase the amount of such exemption; to provide for a referendum,
effective dates, and automatic repeal; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
An
Act to provide a homestead exemption from City of Atlanta ad valorem taxes for
municipal purposes, approved April 19, 2000 (Ga. L. 2000, p. 4462), is amended
by revising subsection (a) of Section 2 as follows:
"(a)
Each resident of the City of Atlanta who is a senior citizen and whose net
income does not exceed $40,000.00 is granted an exemption on that person´s
homestead from all City of Atlanta ad valorem taxes for municipal purposes in
the amount of $40,000.00 of the assessed value of that homestead. The value of
that property in excess of such exempted amount shall remain subject to
taxation."
SECTION
2.
Said
Act is further amended by revising Section 5 as follows:
"SECTION
5.
The
exemption granted by this Act shall apply to all taxable years beginning on or
after January 1, 2009."
SECTION
3.
Unless
prohibited by the federal Voting Rights Act of 1965, as amended, the election
superintendent of the City of Atlanta shall call and conduct an election as
provided in this section for the purpose of submitting this Act to the electors
of the City of Atlanta for approval or rejection. The election superintendent
shall conduct that election on the Tuesday next after the first Monday in
November, 2008, and shall issue the call and conduct that election as provided
by general law. The superintendent shall cause the date and purpose of the
election to be published once a week for two weeks immediately preceding the
date thereof in the official organ of Fulton County. The ballot shall have
written or printed thereon the words:
|
"( ) YES
( ) NO
|
Shall
the Act be approved which provides a new increased homestead exemption from City
of Atlanta ad valorem taxes for municipal purposes in the amount of $40,000.00
of the assessed value of the homestead for residents of that city who are 65
years of age or over whose income does not exceed $40,000.00?"
|
All
persons desiring to vote for approval of the Act shall vote "Yes," and those
persons desiring to vote for rejection of the Act shall vote "No." If more than
one-half of the votes cast on such question are for approval of the Act,
Sections 1 through 3 shall become of full force and effect on January 1, 2009.
If the Act is not so approved or if the election is not conducted as provided in
this section, Sections 1 through 3 of this Act shall not become effective and
this Act shall be automatically repealed on the first day of January immediately
following that election date. The expense of such election shall be borne by
the City of Atlanta. It shall be the election superintendent´s duty to
certify the result thereof to the Secretary of State.
SECTION
4.
Except
as otherwise provided in Section 3 of this Act, this Act shall become effective
upon its approval by the Governor or upon its becoming law without such
approval.
SECTION
5.
All
laws and parts of laws in conflict with this Act are repealed.