Walnut Grove, City of; ad valorem tax; provide homestead exemption

City tax relief for Walnut Grove homeowners

The law creates a property-tax exemption for qualifying owner-occupied homes in Walnut Grove. Starting January 1, 2026, it exempts assessed value above an adjusted base-year value from city taxes. Activation requires approval by more than half of votes cast in the November 2025 city referendum. The city pays the election cost. Without approval, or without the required election, the exemption never starts and is repealed 365 days after the election. For exemptions first granted in 2026, the starting base is the home's 2024 assessed value. For later first-time exemptions, the base is the previous year's assessed value. Each year's adjusted base starts with the prior adjusted base. It adds the difference between current assessed value and base-year assessed value, subject to a cap. That addition cannot exceed the prior adjusted base multiplied by the annual inflation rate plus 0.25 percentage points. Additions, improvements, and property removals also increase or decrease the adjusted base. Values include final appeal results. Georgia's revenue commissioner must set a standard inflation method reflecting Georgia living costs, using a suitable federal index. The exemption excludes city bond-debt taxes and leaves state, county, and school taxes unchanged. Homeowners must apply through the city under state homestead procedures. Those granted an exemption for the same home in 2025 qualify automatically for 2026 while still eligible. The exemption renews while owners occupy the home, and owners must report lost eligibility. An eligible surviving spouse can keep it, but it does not transfer to a new owner. Other homestead exemptions still apply; overlapping Walnut Grove base-year exemptions use only the larger benefit.