Valdosta homeowners could receive a city tax break if approved

The Act would exempt eligible homestead property from Valdosta city taxes, up to the assessed value set each year. It would cover a resident's homestead property located within the Lowndes County special district and apply only to Valdosta city taxes. Other applicable homestead exemptions could also apply. The exemption would be funded by net proceeds from a new 1 percent local sales tax in the Lowndes County special district. The Act would need a two-thirds vote in both legislative chambers and approval by more than half of the votes cast in the city referendum. If approved in the referendum, the exemption would apply to tax years beginning January 1, 2027, through December 31, 2038.

A person would need to apply for the exemption unless already receiving a Valdosta homestead exemption for the same property and still eligible. These rules apply to people seeking the proposed exemption for a homestead. After the exemption was granted, it would renew each year while the person occupied the property as a homestead and remained eligible. The person would have to tell the local tax official if they became ineligible. Once granted, the exemption would renew each year while the person lived in the property as a homestead and remained eligible.