07 LC 21
9465
House
Bill 823
By:
Representatives Amerson of the
9th,
Yates of the
73rd,
Williams of the
4th,
and Parham of the
141st
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-5-48 of the Official Code of Georgia Annotated, relating
to homestead exemption for qualified disabled veterans, filing requirements,
periodic substantiation of eligibility, and persons eligible without
application, so as to increase the amount of such exemption; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-5-48 of the Official Code of Georgia Annotated, relating to homestead
exemption for qualified disabled veterans, filing requirements, periodic
substantiation of eligibility, and persons eligible without application, is
amended by revising subsection (b) as follows:
"(b)
Any disabled veteran as defined in any paragraph of subsection (a) of this Code
section who is a citizen and resident of Georgia is granted an exemption of the
greater of
$32,500.00
$200,000.00
or the maximum amount which may be granted to a disabled veteran under Section
2102 of Title 38 of the United States Code, as amended, on his or her homestead
which such veteran owns and actually occupies as a residence and homestead, such
exemption being from all ad valorem taxation for state, county, municipal, and
school purposes.
As of
January 1, 2004, the maximum amount which may be granted to a disabled veteran
under the above-stated federal law is
$50,000.00. The value of all property in
excess of the exempted amount cited above shall remain subject to taxation. The
unremarried surviving spouse or minor children of any such disabled veteran as
defined in this Code section shall also be entitled to an exemption of the
greater of
$32,500.00
$200,000.00
or the maximum amount which may be granted to a disabled veteran under Section
2102 of Title 38 of the United States Code, as amended, on the homestead so long
as the unremarried surviving spouse or minor children continue actually to
occupy the home as a residence and homestead, such exemption being from all ad
valorem taxation for state, county, municipal, and school purposes.
As of
January 1, 2004, the maximum amount which may be granted to the unremarried
surviving spouse or minor children of any such disabled veteran under the
above-stated federal law is $50,000.00.
The value of all property in excess of such exemption granted to such
unremarried surviving spouse or minor children shall remain subject to
taxation."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.