More Peachtree City homeowners are eligible for a tax break under a new law signed by Gov. Brian Kemp this month. H.B. 703 supports low income seniors in Peachtree City by reducing what they pay in property taxes on their legal residence.

The law doubles the annual income cap from $30,000 to $60,000 for eligibility. It also increases the value of the property tax exemption from $5,000 to $30,000 of the assessed value. 

Amending a homestead exemption is an incremental process in Georgia. After passing a Resolution at the municipal level, it proceeds to the Georgia General Assembly for a vote and the Governor’s signature, then goes on to become a referendum on the general election ballot.

“I am proud to support our seniors with these tax breaks,” Mayor Kim Learnard said. “This was a necessary step in response to rising property tax assessments and inflation, and it’s going to make a big difference in the lives of many of our citizens.” 

The Peachtree City Council voted in favor of the tax break on a 3-2 vote in Nov. 2024 with Mayor Learnard, Councilwoman Laura Johnson and Councilman Frank Destadio all in favor. It then passed the Georgia House and Senate unanimously in the most recent legislative session. The Chief Sponsor was Rep. Josh Bonner (R-73), with the entire local delegation including Rep. Derrick Jackson, Rep. Debra Bazemore, and Rep. Karen Mathiak signing on as co-sponsors. Gov. Brian Kemp signed the bill into law on May 13, 2025.

“HB703 provides much needed relief to the seniors in our community. Rising property taxes has forced those on fixed incomes to re-evaluate staying in their homes,” said Bonner. “I applaud the Mayor and City Council for requesting this legislation to ease the financial burden on residents in Peachtree City.”

In accordance with state law, Peachtree City voters will have a chance to officially accept the measure as a ballot referendum when they vote in the Nov. 4, 2025, general election.