Revenue and taxation; authorize assessment of residential homesteaded property owned by individuals who are 65 years of age or older at 20 percent of its fair market value; provide for local referenda

A BILL to be entitled an Act to amend Code Section 48-5-7 of the Official Code of Georgia Annotated, relating to assessment of tangible property, so as to provide for local referenda to authorize assessment of residential homesteaded property owned by individuals who are 65 years of age or older at 20 percent of its fair market value regarding local school district taxes for educational purposes; to provide for a contingent effective date; to provide for related matters; to repeal conflicting laws; and for other purposes.