Georgia House Passes Bill To Freeze Property Tax Increases For Two Years

Georgia CapitolIn an effort to help homeowners, the Georgia House passed a bill that would ban property tax assessments for the next two years with the hope of keeping property taxes down.  The bill would not lower taxes but basically hold them in place for the two year period.  The challenge is that many cities are under increased pressure to collect revenues and this bill may cause more budget cuts in cities, counties and school districts.

The House voted 110-63 in favor of the bill after defeating a measure that would have capped tax increases to 3% a year. One exception to the bill is if a property is rezoned or improved, it can then be subject to a re-assessment.   The bill is now headed to the Senate.

Read the original article here.