Ad Valorem Taxation of Property; setting of millage rates; revise provisions

A BILL to be entitled an Act to amend Chapter 5 of Title 48 of the O.C.G.A., relating to ad valorem taxation of property, so as to revise provisions related to the setting of millage rates; to limit the application of the freezing of the assessed value as a result of an appeal; to limit the application of a temporary reduction in the taxes owed when a taxpayer appeals to superior court and does not participate in the settlement conference; to provide for a statewide homestead exemption from ad valorem taxes in an amount equal to the amount by which the current year assessed value of a homestead is more than 3 percent from the adjusted base year value of such homestead; to provide for related matters; to provide for a referendum, effective dates, applicability, and automatic repeal; to repeal conflicting laws; and for other purposes.