The fate of one statewide ballot measure was too close to call as ballots were counted late into Tuesday night, while two other measures passed with wide margins, according to the Associated Press, which called the results shortly after 8 p.m.
Constitutional Amendment One was approved with more than 60% of votes counted in favor as of about 9 p.m. This means that home property assessments will be capped at the inflation rate for the previous year. By holding down assessment increases, property tax increases would also be limited since they are based on the assessed value of a home and the property tax rate. The change goes into effect Jan. 1.
The amendment will also allow local governments to use revenue from a 1% sales tax increase to lower property taxes if voters approve a local referendum to increase the sales tax.
But municipalities could opt out of the cap between Jan. 1 and March 1. Local officials have to pass a resolution and hold three public hearings to opt out.
Constitutional Amendment Two, which was too close to call as of 8:30 p.m., deals with the creation of a state tax court in the judicial branch. It would do away with the state’s current tax tribunal responsible for handling complaints involving the state Department of Revenue.
As of about 9 p.m., votes for the measure were practically neck and neck.
It is exceptionally rare for ballot initiatives to not pass in Georgia. Since 2012, only one of the nine measures brought to voters in a general election has not been approved.
The last ballot measure Georgians voted on, the statewide referendum, will increase the tax exemption for tangible personal property — such as business inventory and farm machinery — from $7,500 to $20,000. More than 60% of votes counted were in favor of the measure, as of 9 p.m. The increased exemption will go into effect Jan. 1.
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