This story was updated on Wednesday, Nov. 6 at 9:12 a.m.
Georgia voters approved three statewide ballot measures on the final day of the 2024 election on Tuesday.
Continue reading for a breakdown of what passed and what failed.
Georgia Amendment 1 – PASSED
Georgia voters approved this measure with over 60% of the vote as of 11:30 p.m. on Tuesday night. The Associated Press called it earlier in the evening.
This homestead tax exemption will freeze the values of all homesteads in Georgia for the purposes of property taxes, capping property tax increases statewide.
Property value determines the amount of taxes that homeowners pay. With the passage of the measure, property values will now be based on a yearly assessment of the consumer price index, meaning that property tax increases won’t outpace inflation.
The exemption will last as long as the homeowner owns the home.
It’s a critical election year, and Georgia is at the center of it. Stay in the know with WABE’s 2024 Georgia Elections page, where you can find WABE’s latest election news and podcast episodes, important dates, voting locations, candidate info, results and more.
When a new homeowner buys the home, the property’s value resets to the actual value, and the new homeowner may pay significantly higher taxes than the previous homeowner.
WABE housing reporter Stephannie Stokes reports that property taxes fund a significant portion of local governments and school districts. The state law for the measure allows governments to add a sales tax to make up for lost revenue.
Local governments can opt out of the exemption, but the process requires a series of public meetings and the adoption of a resolution before March 2025.
Georgia Amendment 2 – PASSED
Georgia voters approved this measure as of 8:15 a.m. Wednesday.
This measure will create a new statewide tax court in the judicial system. Currently, tax cases are heard by a tribunal in Georgia’s executive branch.
A statewide tax court would run concurrent with the Georgia Superior Court, meaning both courts have jurisdiction over such cases.
The new measure would also move tax case appeals to the Georgia Court of Appeals rather than being heard in Fulton County Superior Court.
Georgia State Rep. Chuck Martin told WABE that this would “unburden” the Superior Court and put appeals in the correct venue.
Georgia Referendum A – PASSED
Georgia voters approved this measure with over 60% of the vote as of 11:30 p.m. on Tuesday night.
With the passage of this measure, Georgia will raise the maximum threshold for property tax exemptions on tangible personal property owned by businesses.
The previous threshold for tax exemptions was on property worth $7,500 or less. The new threshold is on property worth $20,000 or less.
The last time the maximum threshold was raised was in 2002, when voters approved a measure to raise it from $500 to $7,500.
Republican State Rep. Mike Cheokas, a co-sponsor of H.B. 808, which put the measure in front of voters, said it’s meant to relieve the burden of inflation on small businesses.
However, opponents of the measure point out that the decrease in tax revenue could negatively impact public services that are funded by taxes.
This is a developing story.
