ATLANTA (AP) — A deal between the Georgia House and Senate on limiting how much assessed home values can rise for tax purposes may be solidifying, although questions remain about the election-year push for property tax relief.
The Senate Finance Committee on Monday approved a rewritten bill and state constitutional amendment that would limit increases in a home’s value, as assessed for property tax purposes, to 3% per year, unless a local government or school board used a one-time escape hatch to opt out from the cap.
HOUSE REPUBLICANS DEMAND DHS PROVIDE DOCS ON DEPORTATIONS OF BROTHERS OF LAKEN RILEY’S ACCUSED KILLER
Voters would have to approve the plan in a November referendum.
If approved, the limit would last as long as owners maintain a homestead exemption, typically as long as they own a home.
Property taxes are a hot issue for Georgia lawmakers this year, facing complaints that bills have steadily risen along with home values.
“Property taxes are the No. 1 thing that we hear about,” said Sen. Jason Esteves, an Atlanta Democrat.
And Georgia is far from the only state where lawmakers are reacting to voter discontent over higher levies, with states including Texas, Kansas, Colorado and Pennsylvania seeing the issue take center stage over the past year.
Senators had wanted to mandate the cap for every city, county and school district that doesn’t already have a more restrictive cap, while House members had proposed allowing governments to choose to opt in. Under the current proposal, local governments and school districts would have until March 1, 2025 to opt out. But any local government or school district that didn’t exit the plan would be governed by the cap after that.
“We wanted mandatory, they wanted opt-in, and we sort of compromised and have an opt-out,” Senate Finance Committee Chairman Chuck Hufstetler, a Rome Republican, told The Associated Press on Tuesday. “So that’s what I believe we’ll have going forward.”
Still in question is whether…
Read the full article here
