A deal between the Georgia House and Senate on limiting how much assessed home values can rise for tax purposes may be solidifying, although questions remain about the election-year push for property tax relief.
The Senate Finance Committee on Monday approved a rewritten bill and state constitutional amendment that would limit increases in a home’s value, as assessed for property tax purposes, to 3% per year unless a local government or school board used a one-time escape hatch to opt-out from the cap.
Voters would have to approve the plan in a November referendum.
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