Title
Approval of a Resolution in Opposition to Georgia House Resolution (HR1) currently pending in the Georgia Legislature.
Body
Item Summary:
HR1 is a proposed amendment to the Georgia Constitution which would cap annual assessment of property tax increases of property at 3 percent or the rate of the Consumer Price Index, whichever is less, with the exception of improvements to property or after sale of property, which would be assessed at fair market value. This assessment cap would decrease flexibility in the revenue sources of local governments.
Committee or Staff Recommendation:
N/A
Financial Impact:
N/A
Presented by:
Jere Wood, Mayor