GA Taxpayers To Receive $1B In Refunds: What To Know

ATLANTA, GA — Gov. Brian Kemp on Tuesday plans to sign a House bill that will send up to $500 in tax rebates to Georgia taxpayers.

Kemp's office on Monday said he will sign House bills 111 and 112, which will respectively cut the state income tax rate and allow $1 billion in one-time special tax refunds to be allocated.

The Georgia Senate unanimously passed HB 112 on March 20, approving the surplus income tax refund. Additionally, the Senate voted 30-23 to drop the state income tax rate from 5.39 percent to 5.19 percent.

Kemp will join legislators at 11:15 a.m. Tuesday at The Coca-Cola Roxy to sign both bills as part of the Cobb Chamber of Commerce's Marquee Monday event.

The governor first announced the proposed rebate in October, adding the refund would not be taxable income. The passage came on the day Kemp signed the newest budget for annual fiscal year 2025.

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The third rebate initiated by state officials would provide $250 to single tax filers, $375 to head-of-household filers and $500 to married couples filing jointly, according to Kemp's office at the time.

Aside from filing their 2023 and 2024 individual tax returns, state officials said no additional action is necessary in order for residents to obtain the rebate.

"As we all know too well, inflation may have come down, but high prices haven’t," Kemp said in a March news release shortly after announcing his latest budget proposal. "And that’s why this budget includes 1 billion dollars for another one-time refund for hardworking taxpayers."

A timeline has not yet been released for issuing the refunds.

Patch has reached out to the Georgia Department of Revenue for more information.