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Peach Sheet


The Act creates a statewide homestead tax credit that has the effect of an exemption and is in addition to existing local exemptions. The Act gives homeowners a credit against their property tax liabilities to counties and school districts, and the state reimburses these entities for lost revenue. The tax credits take effect only if the state has adequate revenue to fund them; the Act does not guarantee them on an annual basis. The Georgia General Assembly has authority to appropriate funds and the Department of Revenue will have authority over disbursements to the counties and school boards.

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