Greensboro, City of; ad valorem tax for municipal purposes; provide homestead exemption

City property tax relief for Greensboro homeowners

The law creates Greensboro city property tax relief for qualifying owner-occupied homes, covering no more than one contiguous acre. It exempts assessed value above an adjusted base value, beginning with tax years starting January 1, 2026. The exemption requires majority voter approval at the November 4, 2025 referendum; enactment also requires two-thirds approval in both legislative chambers. Rejection or failure to hold the election prevents the exemption from taking effect and automatically repeals the act 365 days later. Homes first approved in 2026 use their 2024 assessed value as the base; later approvals use the previous tax year's value. Annual base increases cannot exceed actual assessed-value growth or the prior adjusted base multiplied by last year's inflation rate plus 0.25 percentage points. Georgia's Revenue Commissioner sets the inflation calculation method. Additions, improvements, and removals also change the base, and values reflect final appeal decisions. Relief excludes state, county, school, and city bond-debt taxes; it does not freeze the entire property tax bill. Homeowners apply through the city or its designee, which provides forms. Eligible homeowners with a Greensboro homestead exemption on the same home in 2025 receive automatic approval for 2026. Approval renews automatically while the home remains an eligible homestead, and homeowners must report lost eligibility. An occupying surviving spouse can keep the exemption, but the benefit does not transfer to a new owner. Other homestead exemptions generally remain available unless stacking is prohibited; among competing city base-year exemptions, only the larger applies.