(The Center Square) – All of Georgia’s three statewide ballot initiatives were approved by voters on Tuesday.
Two dealt with property and tax law, while a third would create a Georgia Tax Court. All three were put forward by the Legislature, the only route for initiating ballot measures.
The ballot measures join the 132 ballot measures on the ballot in Georgia since 1985. Approval has been given to 109, with just 27 defeats.
Tax Court Amendment – HR598
The Tax Court Amendment will create a Georgia Tax Court with state-wide jurisdiction by amending Article VI of the Georgia State Constitution. With all precincts reporting, 51.9% had voted yes and 48.1% voted no.
The state has a Tax Tribunal, which is under the executive branch. The new Tax Court would make that a part of the state’s judicial branch.
The Tax Tribunal reviews cases concerning tax matters in the state.
Each judge on the court would serve four years and be appointed by the governor, with the approval of the state’s Senate and House Judiciary Committees. The Legislature will decide how many judges will be on the court and the qualification requirements.
Local Option Homestead Property Tax Exemption Amendment – HR1022
This amendment is the other constitutional amendment on the ballot. It would authorize the Legislature to implement statewide homestead property exemptions, which “serves to limit increases in the assessed value” of a home. It was passed with 63% percent.
This would lower the amount of property taxes that homeowners would have to pay, as long as they meet certain residency and occupancy criteria. It would join a number of other state property tax exemptions already in place.
Under the amendment to Article VII, “political subdivisions” will now have the option to both opt in and opt out of the tax exemption program.
Personal Property Tax Exemption Increase Measure – HB808
This tax measure will increase the personal property tax exemption in the state from $7,500 to $20,000. It was passed with 65% percent.
This means that taxpayers will be allowed to exclude $20,000 or below of personal property from taxation.
“All tangible personal property” excludes motor vehicles, trailers, and mobile homes, but includes furniture, aircraft, boats, machinery and similar belongings.
This will be the first expansion of this personal property tax exemption since 2002, when voters approved it being increased from $500 to the current $7,500.
