(The Center Square) – Georgia has joined other states pushing for an overhaul of property taxes this year, with a proposal to eliminate the taxes for homeowners statewide in the next six years.
House Speaker Jon Burns, R-Newington, held a news conference Wednesday to tout the Georgia Home Act as “historic” relief. He was joined by House Ways and Means Chairman Shaw Blackmon, R-Bonaire.
The measure doubles the state homestead exemption semi-annually, limits the growth of revenue from commercial and multi-family property taxes to 3% and provides homeowners with grants averaging $500, according to Burns.
The bill would not affect current property tax exemptions, according to Burns’ office. Local governments would have the chance to provide tax relief before the mandate goes into effect in 2032, although many have said the loss of revenue would strip their budgets and affect services.
Other Republican-led states are considering a number of ways to cut property taxes.
A slew of measures in the Florida House includes one that would phase out all non-school homestead property taxes over 10 years. Almost all are constitutional amendments that, if they advance through the process, would appear on voters’ ballots in November for final approval unless lawmakers narrow the list.
Proposed legislation in Iowa would significantly change how property taxes are calculated and expand some tax exemptions.
Democrats have pushed back, saying the financial burden would be shifted to lower-income renters and businesses.
Georgia House Minority Leader Carolyn Hugley, in the Democratic response to GOP Gov. Brian Kemp’s State of the State Address this month, said the proposals are “not tax relief; this is cost-shifting.”
“Let me be clear about what this means: While they cut taxes for the top, they’re increasing the pressure on homeowners, renters and local governments to make up the difference,” she said.
