3 tax credit, income tax bills pass on Sine Die, head to Georgia governor for approval

ATLANTA — Three pieces of legislation in Georgia meant to assist with taxation and financial relief for state residents cleared both chambers on Sine Die.

In the Georgia General Assembly, that means House Bills 1015, 1019 and 1021 were approved officially and are headed to Gov. Brian Kemp to sign into law or veto.

The three bills would, respectively, lower income tax rates for Georgians to 5.39%, increase the homestead tax exemption limit to $4,000 and increase exemptions for dependents to $4,000 per child, elder or relative, beginning with tax years starting Jan. 1, 2024.

For property tax exemptions, previous reporting by Channel 2 Action News and the Associated Press showed that there may be some exceptions to the provisions of HB 1019.

Those exemptions are related to some counties that have local homestead tax exemptions that don’t allow for the statewide exemption to be added on top of the local version.

The exact number of homeowners the measure would affect is unclear but House Republicans said it would save homeowners statewide less than $100 million a year.

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