Measure to slow property tax hikes in Georgia passes Senate, heads to House

ATLANTA — A new piece of legislation aimed at slowing property tax increases for Georgia residents passed the state Senate, setting it up for approval in the Georgia House of Representatives and, potentially, Gov. Brian Kemp.

Lt. Gov. Burt Jones has highlighted the measure as a priority for the state in a bid to bring tax relief to Georgians, one of several separate legislative efforts and plans by both Jones and Kemp.

Senate Bill 349, called the Save Our Homes Act, would limit the annual increases of home valuations, as related to property taxes, to a cap of 3% each year.

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According to Jones, it’s part of an overall effort to keep costs for Georgia families lower.

“Our goal has always been to keep costs low for Georgia families,” Jones said in a statement. “Senate Bill 349 limits increases in property taxes year to year, reforms the appeals process, and allows for more transparency in our taxation procedures. This bill will make the taxation process both less confusing and less expensive for Georgia taxpayers.”

Speaking to the Associated Press in January, Sen. Chuck Hufstetler said school districts and municipal governments are pocketing higher revenues based on values rather than keeping bills level.

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“I’ve seen some increases where, just in a couple of years, their collections have gone up 40%,” Hufstetler told The Associated Press on Friday. “And they haven’t dropped the millage rate and they are using it for a backdoor tax increase. And I think there needs to be some moderation on that.

The Georgia Department of Revenue reported in January that property taxes statewide rose about 41% from 2018 to 2022, while properties’ assessed values were up 39%. In terms of impact on local governments, DOR reported that “property tax continues to be the primary revenue source,” totaling “approximately $16.5 billion in revenue.”

However, that figure doesn’t include taxes levied and collected from local municipalities, because DOR’s “involvement in the collection of city taxes is limited.”

As previously reported, House Speaker Jon Burns has also proposed doubling the state’s homestead exemption.

In a more localized effort, Atlanta lawmakers have also filed legislation to give senior residents a break on their property taxes, at least when it comes to funding the public school system.

Now that it’s passed the Senate, SB 349 heads to the Georgia House of Representatives. If it clears the chamber and is approved by Kemp, property tax changes for Georgia homeowners could be in effect by Jan. 1, 2025. Still, the bill itself says a referendum vote may be necessary as well, regarding the provisions of the bill.

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