Georgia Budget and Policy Institute
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GBPI Analysis of SR 686 and SR 796
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www.gbpi.org
GBPI Releases Policy Brief on Property Tax Assessment Caps
To read or download the policy brief, click here
February 8, 2008:
The Georgia Budget and Policy Institute (GBPI) today has released a policy
brief that analyzes and evaluates the policy impact of the following Georgia
Senate Resolutions: SR 686 and SR 796.
As proposed, SR 686 would freeze the assessed value for residential properties
at 2008 levels and would not allow them to increase at more than the rate of
inflation every year. SR 796 would freeze residential and nonresidential values
at 2008 levels and would allow their values to increase annually by no more
than 2 percent for residential properties and 3 percent for nonresidential
properties.
The GBPI brief illustrates how the proposed assessment caps could create
problems of equity among property owners. They would shift a larger share of
the tax burden to new residents and first time home buyers, as well as
residents whose property value is not increasing rapidly.
All of GBPI's reports are available to read and download at our web site: www.
gbpi.org
The Georgia Budget and Policy Institute is the state's leading independent,
nonprofit, non-partisan organization engaged in research and education on the
fiscal and economic health of the state of Georgia. The Institute provides
reliable and timely analyses of Georgia's budget and tax policies and promotes
greater state government fiscal accountability, improved services and an
enhanced quality of life for all Georgians.
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