Some Georgia lawmakers are looking for ways to provide relief from property taxes. The proposals are coming as increases in home values have caused taxes to rise.

With a runup in home values sparking higher property taxes for many Georgia homeowners, there is a groundswell among state lawmakers in this election year to provide relief.

Georgia’s Senate Finance Committee plans a hearing on Monday on a bill limiting increases in a home’s value, as assessed for property tax purposes, to 3% per year. The limit would last as long as the owner maintained a homestead exemption. Voters would have to approve the plan in a November referendum.

Meanwhile, Republican House Speaker Jon Burns of Newington proposes doubling the state’s homestead tax exemption, a measure likely to cut tax bills by nearly $100 million statewide.

  • IamSparticles@lemmy.zipEnglish
    6·
    8 months ago

    If the property tax is capped to 3% a year, if property tax is the primary funding for schools, teacher raises would be have to be capped to 3% a year.

    Probably less, since there are other costs that will continue to go up faster than levies can account for.