State Issues
State Constitutional Amendment Proposes a Cap on the Assessed Value of Homesteaded Properties
October 2, 2024
This November, voters across the country will go to the polls to support their favorite candidate for president and other local, state, and federal candidates. In Georgia, voters will also have the opportunity to vote for a constitutional amendment that would “limit increases in the assessed value of homesteads.”
The Georgia Local Option Homestead Property Tax Exemption Amendment will appear on the 2024 November ballot as a legislatively referred constitutional amendment. A legislative referral amends the state constitution.
This tax initiative passed the Georgia General Assembly earlier this year as House Resolution 1022.
The cap, if passed, would apply to all county governments, consolidated governments, municipalities, or local school systems. However, the legislation provides an exemption for jurisdictions that already have similar caps and requires the legislature to develop an opt-out process for jurisdictions that complete certain procedures.
About the PCBR Market Brief
The Pickens County Board of REALTORS® (PCBR) Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Pickens County Board of REALTORS®
The Pickens County Board serves as a central source of information for our members and our main focus are real estate education, the promotion of professionalism in our industry and representing our REALTOR® members with legislative initiatives to create positive change for the real estate community. Throughout its history, the Pickens County Board has exerted its influence in civic affairs in its capacity of representing a substantial segment of the business community across the Pickens area. The Board has contributed to various charities over the years by hosting fundraisers.
About First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.