Statewide referendum a
Provides for a homestead exemption for residents of certain municipal corporations.
“Do you approve a new homestead exemption in a municipal corporation that is located in more than one county, that levies a sales tax for the purposes of a metropolitan area system of public transportation, and that has within its boundaries an independent school system, from ad valorem taxes for municipal purposes in the amount of the difference between the current year assessed value of a home and the adjusted base year value, provided that the lowest base year value will be adjusted yearly by 2.6 percent?”
What voting “yes” or “no” means:
Voting “yes” means supporting a cap on property tax increases for City of Atlanta taxes.
Voting “no” means property taxes for City of Atlanta taxes can continue to increase in alignment with market conditions.
Supporters say homeowners should be protected from huge increases in their property taxes.
Opponents say others will have to make-up the difference.
This would create what’s known as a “floating” homestead exemption. Although this question is presented to all Georgia voters, it currently applies only to the City of Atlanta. It would place a cap on any increase in ad valorem taxes for municipal purposes unless a future state-wide amendment is enacted.
This proposal authorizes a new homestead exemption from ad valorem taxes for municipal purposes in an amount equal to the amount by which the current year assessed value of a homestead exceeds the adjusted base year value of such homestead. This exemption would only apply to persons residing in a municipal corporation that is located in more than one county, that levies a sales tax for the purposes of a metropolitan area system of public transportation, and that has within its boundaries an independent school system.
If approved by a majority of the voters, the Act becomes effective on January 1, 2019, and applies to all tax years beginning on or after that date.
Fulton County has had a floating homestead on its portion of the tax bill since 2003, capped at 3%.
A bill for Atlanta Public Schools to adopt a floating homestead did not make it to a final vote in the state legislature this year.
Watch discussion on this question from our live ballot questions event.
How did the state legislature vote on this?
Who gets to vote now?
All voters in the state of Georgia get to vote on this question.