Republicans in Georgia’s House of Representatives have introduced a proposal that would eliminate homestead property taxes by 2032.
WABE reports the proposal, which is being led by House Speaker Jon Burns, would increase the state homestead exemption for every year up until 2023. Other exemptions would remain in place.
The proposal encourages local governments and schools to consider other options to compensate for the decrease in property tax revenue. These options include a sales tax up to 3% levied by counties and localities while school systems can levy a sales tax up to 2%. Current local sales taxes can also be repurposed.
The Association County Commissioners of Georgia estimated counties and localities would need to make up more than $2 billion in revenue and school districts would need to make up more than $3 billion. However, Burns insisted the plan would benefit Georgia households.
“This historic tax relief would be delivering on our commitment to making life more affordable for our neighbors across this entire state of Georgia, starting where it matters most — at home,” Burns said, adding that he felt the plan will receive “overwhelming support. I believe this proposition will resonate with all Georgians. Protecting your homeplace, your homestead is not partisan. That resonates with both Democrats and Republicans.”
The plan will need to pass through the Georgia legislature before being voted upon by the public in November’s election as a constitutional amendment.
