Homestead Exemption for Residents 65 Years of Age or Older or Who Are Disabled
Increases the income limit for seniors who qualify for certain tax breaks
How it appears on your ballot
"Shall the Act be approved which increases the income cap to $37,500.00 on the $14,000.00 homestead exemption provided to certain residents of DeKalb County who are 65 years of age or over or who are disabled?"
House Bill 591, Act No. 152
The Branch Breakdown
What it means
Currently, senior citizens (those 65 years or older) or permanently disabled residents who make $15,000 or less per year receive a property tax break. Anyone who makes more than $15,000 per year does not receive that tax break.
This referendum would increase that income limit from $15,000 to $37,500. Residents making making less than $37,500 will receive the same benefits (tax exemption) as the current benefactors.
Supporters say that this creates a more equitable environment that covers more socioeconomic circumstances that disabled or elderly people might have. It allows for more range that could help more people that need it. Opponents say that this broader application of the homestead exemption could cause tax increases for other residents.
A "yes" vote means
- The income limit for those 65 years or older or permanently disabled will be raised to $37,500.
A "no" vote means
- The income cap for senior citizens and the disabled will remain the same.
Sources:
Legiscan GA HB591