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Key Votes

SR 796 - Property Tax Assessment Cap - Key Vote

Georgia Key Votes

Keith Heard voted Nay (Passage) on this Legislation-Resolution.

Read statements Keith Heard made in this general time period.

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Legislation-Resolution - Resolution Failed (House) (110-62) - (Key vote)

Title: Property Tax Assessment Cap

Vote Smart's Synopsis:

Vote to pass a resolution that amends the state constitution to cap the allowable increases in property tax assessments and eliminates all ad valorem taxes on motor vehicles.

Highlights:
- Limits increases in property tax assessments for residential property to a maximum of two percent, and three percent for nonresidential property [sec. 2 (art. VII) (para. IV) (3)]. - Freezes the assessed value of residential and nonresidential property for 2008 [sec. 2 (art. VII) (para. IV)]. - Requires the reappraisal of residential and nonresidential property at fair market value for 2008 if it has undergone additions or improvements that are in service after December 31, 2007 [sec. 2 (art. VII) (para. IV)]. - Requires that residential and nonresidential property be appraised at fair-market value when ownership is sold or transferred [sec. 2 (art. VII) (para. IV) (2)]. - Exempts residential and nonresidential property from the Constitutional principle of uniform taxation [sec. 2 (art. VII) (para. III)]. - Exempts motor vehicles from 50 percent of the assessed value taxes levied at the time of a transaction (ad valorem taxes) from July 1, 2009 to June 30, 2010. After that, motor vehicles will be exempt from all ad valorem taxes [sec. 2 (art. VII) (para. III) (3)]. - Limits the amount of property tax revenue not attributed to new construction that a local taxing jurisdiction may collect to the amount received in the previous taxable year, unless otherwise proposed by an ordinance or resolution of the local governing body and approved by a majority vote of those residing within the limits of the taxing jurisdiction [sec. 2 (art. VII) (para. V) (b-c)]. - Mandates that tax rates benefiting any school system shall be increased or decreased only after being approved by a local act of the General Assembly, which requires approval from a majority of qualified voters voting in that school system (Sec. 3). - This is a substitute bill sponsored by the House Rules Committee.
Note:

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

NOTE: AN AMENDMENT TO THE CONSTITUTION REQUIRES TWO-THIRDS APPROVAL IN EACH CHAMBER FOR PASSAGE. IT MUST THEN BE APPROVED BY A MAJORITY OF CITIZENS VOTING IN THE NEXT ELECTION TO BE ENACTED.

Legislation-Resolution - Resolution Passed (Senate) (48-7) - (Key vote)

Title: Property Tax Assessment Cap

Vote Smart's Synopsis:

Vote to pass a resolution that amends the state constitution to cap the allowable increases in property tax assessments and establishes criteria for any future increases.

Highlights:
- Limits increases in property tax assessments for residential property to a maximum of four percent in 2010, and two percent for every subsequent year [sec. 1 (art. VII) (para. IV) (3)]. - Limits increases in nonresidential property valuations to a maximum of six percent in 2010, and three percent for every subsequent year [sec. 1 (art. VII) (para. IV) (3)]. - Freezes the assessed value of residential and nonresidential property for 2008 [sec. 1 (art. VII) (para. IV) (a) (1)]. - Requires the reappraisal of residential and nonresidential property at fair market value for 2008 if it has undergone additions or improvements that are in service after December 31, 2007 [sec. 2 (art. VII) (para. IV) (a) (1)]. - Requires that residential and nonresidential property be appraised at fair-market value when ownership is sold or transferred [sec. 1 (art. VII) (para. IV) (2)]. - Allows for increases in property valuations above the cap only after they are adopted by an ordinance or resolution of the local governing body, and approved by a majority vote of those residing within the limits of the taxing jurisdiction [sec. 1 (art. VII) (para. IV) (c) (2)]. - Exempts residential and nonresidential property from the constitutional principle of uniform taxation [sec. 1 (art. VII) (para. III)]. - This is a substitute bill sponsored by the Senate Finance Committee.
Note:

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

NOTE: AN AMENDMENT TO THE CONSTITUTION REQUIRES TWO-THIRDS APPROVAL IN EACH CHAMBER FOR PASSAGE. IT MUST THEN BE APPROVED BY A MAJORITY OF CITIZENS VOTING IN THE NEXT ELECTION TO BE ENACTED.

Legislation-Resolution - Introduced (Senate) -

Title: Property Tax Assessment Cap

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