1. Homestead Property Tax Exemption Amendment | (HR-1022)
Georgia ballot question: “Shall the Constitution of Georgia be amended so as to authorize the General Assembly to provide by general law for a statewide homestead exemption that serves to limit increases in the assessed value of homesteads, but which any county, consolidated government, municipality, or local school system may opt out of upon the completion of certain procedures?”
- Purpose: Amendment 1 seeks to implement a statewide exemption for local homestead taxes, ensuring uniform property tax valuations across Georgia based on annual assessments tied to the consumer price index. This would provide consistency and predictability in property tax assessments, benefiting homeowners with fixed incomes by preventing unexpected tax increases.
- Voting Yes: A “yes” vote would authorize the state legislature to establish a statewide, local-option homestead exemption from ad valorem taxes, applicable uniformly across all counties, cities, and school districts unless they opt-out. This would make property taxes more predictable and uniform across the state. However, it might discourage homeowners from selling their homes due to potential higher taxes on new purchases, affecting real estate market fluidity and accessibility for new buyers. Additionally, local governments could opt out of the exemption, which would maintain their autonomy in setting local tax policies.
- Voting No: A “no” vote would maintain the current system, in which local jurisdictions have their varying homestead exemptions. Property taxes could continue to vary significantly from one area to another, potentially leading to sudden increases if counties delay reassessment until mandated by penalties.
- Legislative Approval: The amendment was passed with broad support in the Georgia Legislature, with unanimous approval in the House and a majority in the Senate.
2. Tax Court Amendment (HR-598)
Georgia ballot question: “Shall the Constitution of Georgia be amended so as to provide for the Georgia Tax Court to be vested with the judicial power of the state and to have venue, judges, and jurisdiction concurrent with superior courts?”
- Purpose: The amendment would create the Georgia Tax Court with statewide jurisdiction to handle tax-related cases. Currently, the Georgia Tax Tribunal, which operates under the executive branch, reviews tax cases. The new court would move these matters into the judicial branch, allowing tax cases to be heard by specialized judges focusing on tax law, which would streamline complex tax matters. Ballotpedia has a good map showing Tax tribunals and courts across other states.
- Voting Yes: A “yes” vote would establish the new tax court as part of the state’s judicial system. This would ensure tax cases are handled by judges specifically appointed to understand tax law, leading to more informed decisions and a streamlined appeals process. It would also reduce the burden on the superior court system.
- Voting No: A “no” vote would leave the current system in place, meaning tax disputes would continue to be handled by the Tax Tribunal under the executive branch. Appeals to tribunal decisions would still go through the superior court.
- Legislative Support: The proposed amendment passed the Georgia House unanimously with a 165-0 vote and was nearly unanimous in the State Senate with a 49-1 vote. The one “No” was from Republican Senator Colton Moore of SD-53.
3. Personal Property Tax Exemption Increase Measure | (HB-808)
Georgia ballot question: “”Do you approve the Act that increases an exemption from property tax for all tangible personal property from $7,500 to $20,000?”
- Purpose: This amendment seeks to increase tangible personal property tax exemption from $7,500 to $20,000. The purpose is to alleviate the financial burden on businesses by reducing the property tax on business supplies and equipment due to inflationary pressures.
- Voting Yes: A “yes” would raise the tax exemption limit to $20,000. This change is aimed at helping small business owners, including those in very small or single-person operations, by decreasing the ongoing tax burden on already taxed business essentials.
- Voting No: A “no” vote would maintain the current exemption limit of $7,500. This would mean businesses would continue to pay personal property taxes on the current basis without the proposed relief.
- Legislative Approval: House Bill 808, proposing this amendment, received strong bipartisan support in the Georgia legislature. It passed unanimously in the Senate and was overwhelmingly supported in the House, reflecting broad legislative endorsement for easing tax pressures on small businesses.
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