§ 2. Granted to residents over 62 years of age.

Each resident of the City of Decatur, Georgia, who is 62 years of age or over is granted an exemption on that person's homestead from all City of Decatur ad valorem taxes, including but not limited to ad valorem taxes of the independent school system of the City of Decatur, in the amount of $8,000.00 if the income of that resident, together with the income of the spouse of that resident and all members of the family of that resident who also reside at such homestead, does not exceed $12,000.00 for the immediately preceding taxable year. The value of the homestead in excess of the exempted amount shall remain subject to taxation.

(1994 Ga. Laws, page 4411)