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HB 463 - Establishes a Homestead Exemption for Senior Citizens who Volunteer with Local Governments - Georgia Key Vote

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Title: Establishes a Homestead Exemption for Senior Citizens who Volunteer with Local Governments

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that establishes a homestead exemption for senior citizens who volunteer with local governments in Georgia.

Highlights:

  • Establishes new income tax rates of 4.99% starting January 1, 2026, 4.49% starting January 1, 2027 and 3.99% starting January 1, 2028 (Sec. 1).

  • Decreases the corporate tax rate to 4.99% (Sec. 2).

  • Increases standard tax deduction amounts from $24,000 to $32,000 for married couples filing jointly and from $12,000 to $16,000 for single filers (Sec. 2-4).

  • Specifies that this Act applies to taxable years beginning January 1, 2026 (Sec. 5).

Full Bill Text

See How Your Politicians Voted

Title: Establishes a Homestead Exemption for Senior Citizens who Volunteer with Local Governments

Vote Smart's Synopsis:

Vote to amend and pass a bill that establishes a homestead exemption for senior citizens who volunteer with local governments in Georgia.

Highlights:

  • Establishes new income tax rates of 4.99% starting January 1, 2026, 4.49% starting January 1, 2027 and 3.99% starting January 1, 2028 (Sec. 1).

  • Decreases the corporate tax rate to 4.99% (Sec. 2).

  • Increases standard tax deduction amounts from $24,000 to $32,000 for married couples filing jointly and from $12,000 to $16,000 for single filers (Sec. 2-4).

  • Specifies that this Act applies to taxable years beginning January 1, 2026 (Sec. 5).

Full Bill Text

See How Your Politicians Voted

Title: Establishes a Homestead Exemption for Senior Citizens who Volunteer with Local Governments

Vote Smart's Synopsis:

Vote to pass a bill that establishes a homestead exemption for senior citizens who volunteer with local governments in Georgia.

Highlights:

  • Establishes new income tax rates of 4.99% starting January 1, 2026, 4.49% starting January 1, 2027 and 3.99% starting January 1, 2028 (Sec. 1).

  • Decreases the corporate tax rate to 4.99% (Sec. 2).

  • Increases standard tax deduction amounts from $24,000 to $32,000 for married couples filing jointly and from $12,000 to $16,000 for single filers (Sec. 2-4).

  • Specifies that this Act applies to taxable years beginning January 1, 2026 (Sec. 5).

Full Bill Text

Title: Establishes a Homestead Exemption for Senior Citizens who Volunteer with Local Governments

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