Rome would exempt some homeowners’ value from city taxes

Rome would exempt an annually determined amount of eligible homes’ assessed value from city property taxes. It would cover residents with homestead property in the Floyd County special district, only for the part of the property within that district. It would apply to Rome city taxes and be added to other homestead exemptions. The exemption would take effect only if the bill receives a two-thirds vote in both legislative chambers and more than half of votes cast in the district referendum favor it. The exempt amount would be based on net proceeds from the local sales tax; any assessed value above that amount would remain taxable. Homeowners would need to apply, except those already granted another Rome homestead exemption for the same home in the prior tax year who remain eligible. Once granted, the exemption would renew yearly while the homeowner remains eligible. The referendum is scheduled for November 2026. If approved, the exemption would begin January 1, 2027, and apply through December 31, 2039.