State Rep. Beth Beskin, R-Buckhead, is sponsoring HB 820, which would limit the increase in Atlanta property taxes each year to no more than 3 percent– and state House action on the legislation could begin today. Her bill sets the initial taxable value at the lowest assessed year of 2016, 2017 or 2018 and provides that each year the assessed value for Atlanta city taxes and Atlanta public schools tax can increase no more than the lesser of the increase in the Consumer Price Index or 3 percent.
The Republican attorney also notes there are additional protections to allow for future downward revisions if an assessment is lowered upon appeal or otherwise by the Tax Assessor, as well as increases to allow for improvements or additions to one’s property. “This bill thus permanently protects all Atlanta homeowners from the dramatic property tax assessment increases many of us received with our initial 2017 tax bills and allows us to have a predictable increase in our taxes from year to year,”: Beskin says.
Here’s a link to HB 820:
http://www.legis.ga.gov/Legislation/20172018/174853.pdf
“This type of property tax increase freeze has been in effect for the Fulton County portion of our tax bill since 2005,” she continues. “In 2004, a law passed that capped the Fulton County portion of a homeowner’s bill at the 2003 assessed amount and allowed it to increase each year no more than the lesser of CPI or 3 percent. That is why the Fulton County portion of your tax bill shows an odd-dollar homestead exemption for your Fulton County taxes whereas for most Atlanta homeowners, the basic homestead amount is $30,000.”
In an email, Beskin says HB 820 may be heard by the House today. And in order to pass, the bill will need a two-thirds vote. And if passed by both the House and Senate and signed into law this year, it will go on the November ballot for a voter referendum. It that passses, the law would become on effective January 1, 2019.
