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.
Sure, and railing against those property tax rebates is one thing, but as what you quoted says, that’s not the norm. Property taxes are a problem across the country right now, not just in Georgia (as the article notes), and other states are also passing measures to help.
This also is part of a homestead exemption, so it’s not stopping people who own multiple properties from paying higher taxes.
A family owning a home and passing it on to their kids is not a problem, and I’m not sure why you’re framing it as one. It’s also not like it’s just one family’s home that’s rising in value while everything else stagnates; that hypothetical family who chooses to sell is not getting rich from the decision. Either they’re moving to renting, and paying high rental rates, or they’re buying elsewhere and paying the current market value of that property.