Troup County; school district ad valorem tax; increase homestead exemption

A BILL to be entitled an Act to amend an Act to provide a homestead exemption from Troup County School District ad valorem taxes for educational purposes in the amount of $10,000.00 of the assessed value of the homestead for certain residents of that school district who have annual incomes not exceeding $22,000.00 and who are 65 years of age or over, approved March 24, 1994 (Ga. L. 1994, p. 3844), so as to increase the existing homestead exemption to $40,000.00 of the assessed value of the homestead; to increase the income cap to $40,000.00; to limit the exemption to the homestead and not more than two contiguous acres; to provide for compliance with constitutional requirements; to provide for a referendum, effective dates, and automatic repeal; to repeal conflicting laws; and for other purposes.