hr162_LC_18_4060_a_2.html
05 LC 18 4060
House Resolution 162
By: Representatives Lindsey of the 54th, Keen of the 179th, Cooper of the 41st, Wilkinson of the 52nd, Coan of the 101st, and others

A RESOLUTION

Proposing an amendment to the Constitution so as to provide for limitations upon the rate of increase of the value of homestead property; to provide for the submission of this amendment for ratification or rejection; and for other purposes.

BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.
Article IX, Section IV of the Constitution is amended by adding a new Paragraph at the end thereof, to be designated Paragraph V, to read as follows:
"Paragraph V. Limitations on valuation increases for homestead property. Notwithstanding any other provision of this Constitution to the contrary, with respect to homestead property the rate of increase in the value of property for ad valorem taxation for county, municipal, or educational purposes or any combination thereof, excluding any new construction additions, or improvements thereto, shall not exceed from one taxable year to the succeeding taxable year the lesser of 3 percent or the percent change in the rate of economic inflation on individual taxpayers as determined by the state revenue commissioner. For such purpose, the state revenue commissioner may use the Consumer Price Index for all urban consumers published by the Bureau of Labor Statistics of the United States Department of Labor and any other reliable economic indicator determined by the state revenue commissioner to be appropriate."

SECTION 2.
The above proposed amendment to the Constitution shall be published and submitted as provided in Article X, Section I, Paragraph II of the Constitution. The ballot submitting the above proposed amendment shall have written or printed thereon the following:
"(  )  YES

(  )  NO
Shall the Constitution of Georgia be amended so as to provide for limitations upon the rate of increase in the value of homestead property for ad valorem taxation for county, municipal, or educational purposes or any combination thereof?"
All persons desiring to vote in favor of ratifying the proposed amendment shall vote "Yes." All persons desiring to vote against ratifying the proposed amendment shall vote "No." If such amendment shall be ratified as provided in said Paragraph of the Constitution, it shall become a part of the Constitution of this state.