The legislation is one of a number in Fulton County that seeks to cap property taxes for homeowners. Last year, a huge jump in property values shocked residents and some worried that they could be taxed out of their homes. This bill, and others, await the governor's signature.
Beskin said the Atlanta legislation would go to a statewide vote because the city’s delegation was not on board with the proposal — “They have a different taxation philosophy,” she said of the largely Democratic delegation, which objected to freezing property values at levels that are below fair market value.
If approved, homeowners could choose the lowest-value year of 2016, 2017 or 2018 as their base year. That base year would be adjusted upward for inflation. The bill would go into effect in 2019.