HB 670

Abstract

A BILL to be entitled an Act to provide for a homestead exemption from City of Decatur ad valorem taxes for municipal purposes except for ad valorem taxes levied to pay interest on and to retire municipal bonded indebtedness in the amount of $15,000.00 of the assessed value of the homestead for residents of that city who are 62 years of age or older and whose income does not exceed $50,000.00; to provide for definitions; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for a referendum, effective dates, and automatic repeal; to repeal conflicting laws; and for other purposes.