ATLANTA – State Representative Penny Houston (R-Nashville), chair of the House Appropriations Subcommittee on Economic Development, informs constituents about the constitutional amendments and statewide referendum that will be on the ballot for November 5.
“I want to ensure that our community is fully informed about the amendments and referendum that will appear on the November ballot,” said Rep. Houston. “These tax relief initiatives have the potential to significantly benefit residents in Berrien, Cook and Tift counties by alleviating the financial pressures associated with property taxes. I urge all residents of House District 170 to thoughtfully consider each constitutional amendment and referendum before casting their votes in November.”
The “floating” homestead exemption, established under House Bill 581, would limit annual property tax increases by tying assessed values to the Consumer Price Index. This exemption would apply across all taxing authorities, including city, county and school taxes, with counties also able to implement a Local Option Sales Tax (LOST) to further reduce or eliminate property taxes. The bill also prescribes a method by which any such political subdivision may opt out of said homestead exemption.
The Constitutional Amendment 1, House Resolution 1022, which will be on the ballot for November 5, 2024, would enact HB 581 and amend the Constitution to let the General Assembly offer a statewide homestead exemption that would apply equally to all counties and local governments.
If ratified, this amendment would introduce a new statewide “floating” homestead exemption, and this exemption would limit annual assessment increases on a homesteaded property to the rate of inflation.
The Constitutional Amendment 2, House Resolution 598, which will also be on the November 5 ballot, would amend the Constitution to allow the Georgia Tax Court to exercise judicial power in the state, with the court exercising state-wide jurisdiction. This would allow for a court that specializes in tax law to hear appeals to a tax case decision, which in turn, would allow for these cases to be handled faster. Georgia Tax Court judges would serve four-year terms and be appointed by the governor, subject to approval by the House and Senate Judiciary committees.
The Statewide Referendum A, House Bill 808, which will be on the November 5 ballot, would change state law to increase the ad valorem taxation exemption on tangible personal property from $7,500 to $20,000. This would mean that all tangible personal property, except motor vehicles, trailers and mobile homes, would be exempt from property taxes for tangible personal property worth $20,000 or less. Previously, this property tax exemption was permitted for tangible personal property worth $7,500 or less.
Early voting for the general election began on Tuesday, October 15, 2024, and ends on Friday, November 1, 2024. Election Day is Tuesday, November 5, 2024.
Representative Penny Houston represents the citizens of District 170, which includes all of Berrien and Cook counties and portions of Tift County. She was elected to the House of Representatives in 1997 and currently serves as Chairman of the House Appropriations Subcommittee on Economic Development. She also serves on the Banks and Banking, Budget and Fiscal Affairs Oversight, Economic Development & Tourism and Ways and Means committees.