City of Toccoa; ad valorem taxes; homestead property determined annually for the special district based upon the proceeds of a new Local Homestead Option Sales Tax (LHOST); provide homestead exemption
Senate Reconsidered Lost
Summary
The bill establishes a new Local Homestead Option Sales Tax (LHOST) whose revenue is used each year to determine the value of homestead property for ad valorem tax purposes in a special district of the City of Toccoa. It also provides a homestead exemption for qualifying owners. The measure aims to adjust property tax assessments based on local sales‑tax revenue.
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