Proposed House bill would freeze home assessments

Two bills to freeze or limit home assessment increases in hopes of holding down property taxes have been pre-filed for the upcoming General Assembly session.

Rep. Ed Lindsey (R-Atlanta) pre-filed a proposal backed by House Speaker Glenn Richardson (R-Hiram) and House Majority Leader Jerry Keen (R-St. Simons Island) to cap possible property assessment increases at 3 percent or the rate of inflation. A similar bill passed the state Senate last year.

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Rep. Kevin Levitas (D-Atlanta), pre-filed a bill to effectively freeze assessments at the price the homeowner paid for their home.

Some kind of assessment freeze or cap is likely to win approval during the 2009 General Assembly session after years of lawmaker complaints about rising property taxes.

The value of a piece of property and the tax rate are components that determine how much a homeowner pays in property taxes. Often, lawmakers say, cities, counties and school districts have held down tax rates, but brought in more money each year through increases in the value of properties.

Richardson tried unsuccessfully earlier this year to push a plan to eliminate all property taxes. During the 2008 session, lawmakers came close to getting final approval on an assessment limit, and Richardson has vowed to get one passed next year.

Lindsey said his measure “promotes the principle that property owners should be taxed based on their investment in their property and not some artificial and unrealized value set by bureaucrats.”

Levitas said his bill would protect long-term residents living on fixed incomes by ensuring that the value of their home isn’t inflated for tax purposes because it is located next door to a newer or bigger house.

“My bill rewards those taxpayers who remain in their home counties for the long term, who have paid their fair share of the tax burden over the years and who want nothing more than to remain in their neighborhood,” he said.

The General Assembly goes back into session Jan. 12.