GA Voters Approve Property Tax Exemption Measures

Updated at 9:20 a.m. Wednesday

GEORGIA — A proposal to amend local option homestead property taxes, which would affect property assessments, is likely to pass in Georgia, according to unofficial election returns.

Voters made their selections on two additional taxation measures in the 2024 general election.

The three measures included establishing a tax court with judicial powers (HR 598), making property worth less than $20,000 exempt from personal property taxes (HR 1022) and exempting local option homestead property taxes (HB 808).

All votes are unofficial until certified.

For full coverage of the election in Georgia, go here.

RELATED: GA Elections 2024: Here's Statewide Ballot Measures To Know

Local Option Homestead Property Tax Exemption Amendment (HR 1022) (Proposed Amendment 1)

The amendment would permit counties, consolidated governments, municipalities or school systems to opt of tax exemptions. It would impact homestead property assessments, limiting how much they can be raised annually based on the inflation rate of the previous year.

Tax Court Amendment (HR 598) (Proposed Amendment 2)

This would create the Georgia Tax Court and permit it to have statewide jurisdiction. The court would have the same jurisdiction as "the state business court and superior courts in equity cases," according to Ballotpedia. Under the tax amendment, superior courts would be able to order case removals to the business or tax courts.

Proposed Constitutional Amendment 2

Personal Property Tax Exemption Increase Measure (HB 808) (Statewide Referendum Question A)

Small businesses could exempt machinery, equipment, fixtures and supplies from property taxes, The Tax Foundation said. It would affect compliance costs but would minimally influence state government, the foundation said.

House Resolution 598 would create the Georgia Tax Court and permit it to have statewide jurisdiction. The Georgia Tax Court would have the same jurisdiction as "the state business court and superior courts in equity cases," according to Ballotpedia. Under the tax amendment, superior courts would be able to order case removals to the business or tax courts.

The fate of House Bill 581 is based on the passage of House Resolution 1022, which would permit counties, consolidated governments, municipalities or school systems to opt of tax exemptions.HR 1022 would impact homestead property assessments, limiting how much they can be raised annually based on the inflation rate of the previous year, according to Parker Poe Attorneys and Counselors at Law.

Passing House Bill 808 would increase "the sales tax exemption threshold of tangible personal property from $7,500 to $20,000," the Georgia Chamber said. Under the proposed bill, small businesses could exempt machinery, equipment, fixtures and supplies from property taxes, The Tax Foundation said. HB 808 would affect compliance costs but would minimally influence state government, the foundation said.