State Issues
State Considers Cap On Assessed Value Of Homesteaded Property
March 22, 2024
Early in this year’s legislative session, State Senator Chuck Hufstetler (R-Rome) filed Senate Bill 349, which would cap the assessed value on a homeowner’s primary residence at no more than a 3% per year increase.
If the bill passes, it would require a state constitutional amendment approved by the voters of Georgia before it would become law. The Senate passed the bill and the bill passed the House Ways & Means Committee meeting on March 14th, with language from two other bills added to the measure, House Bill 1115 and House Bill 1031.
At this time, it is unsure whether the bill will make it to the House floor before the end of the session.
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