Camilla - The plan would exempt senior citizens from having to the state portion of their property tax. On a $100,000 home, it would be a yearly savings of about $25.
Perdue says the homestead exemption is a thank you to those 65 and older. It's not final yet. Voters must approve the tax break at the polls in November.
If approved, it will go into effect next year and could help those on a fixed budget. Mitchell County Chief Appraiser Kenny Cox says, "You've got a lot of people aged 65 or older, their spouse has passed away and all they have is the social security and some of them don't have any retirement."
Although the tax break may help seniors, it could cost Georgia big bucks. It is estimated to cost $6.8 Million in 2008, even more in 2009.