ATLANTA — Some Georgia lawmakers are going to try to change the state constitution in order to hold down property taxes. The proposal would put a cap on real estate taxes that spike because of rising property values.
"Basically, they just keep going up," said Anne Choi, who lives in a DeKalb County section of the City of Atlanta.
Public records show the value of her modest two-bedroom house has jumped 25 percent in the last 10 years. As the value of her home rises, her property taxes rise proportionally.
"This year, I anticipate seeing a jump again," Choi said Friday.
Residential property taxes can go up if governments raise millage rates. But, they also rise just because property values get higher.
The proposal at the state capitol would limit those automatic property tax hikes based solely on rising values.
"We’ve had people that have had 40 percent increases. And the millage rate has not been reduced. It’s just been massive tax increases," said Republican state Sen. Chuck Hufstetler, whose bill, SB 349, would cap at three percent tax hikes on homes based solely on rising property values.
"This is probably going to be most helpful to people – some of the older people in the community that would want to stay in their homes but are really just getting taxed out of it," Hufstetler said.
Choi said she’s not entirely sold on the bill, but "It definitely would be an advantage for someone like me and a lot of my neighbors – who are the 'aging in place.'"
Hufstetler’s senate bill has some Democratic support. It would require a constitutional amendment, which would put it before Georgia voters this fall.