May 1, 2024
ATLANTA – The Georgia House of Representatives unanimously passed an election-year tax relief package Thursday.
A measure introduced on behalf of Gov. Brian Kemp would accelerate a state income tax cut that took effect this year, rolling back the income tax rate from 5.49% to 5.39%. House Bill 1015 would save Georgia taxpayers about $1.1 billion this year, Rep. Lauren McDonald, R-Cumming, said on the House floor before Thursday’s vote.
Another bill in the package calls for doubling the state’s homestead tax exemption from $2,000 to $4,000. The exemption has remained unchanged since 1978, when the average home in Georgia cost $55,000, said Rep. Matt Reeves, R-Duluth, House Bill 1019’s chief sponsor.
“This gives good tax relief at a time it’s needed,” he said.
The third bill in the package – House Bill 1021 – would increase Georgia’s child-tax deduction from $3,000 to $4,000.
The three bills now move to the state Senate.
