Georgia voters appear to have passed a constitutional amendment aimed at limiting how much home values can rise.
The amendment, authorized by House Resolution 1022, would enact House Bill 581 and limit how much home values can increase, tying it to the inflation rate. It would also introduce a new Local Option Sales Tax (LOST) for property tax relief.
The exemption would be limited to jurisdictions that do not already have certain homestead exemptions in place, and county, consolidated and municipal governments and local school systems have until March 2025 to opt out of the homestead exemption.
