New research published this week shows the Atlanta metro has seen the second-highest increase in property taxes from 2019-2024. Voters in Georgia will consider a constitutional amendment on Tuesday meant to slow down the tax hikes.
Property Taxes 2019-2024
Redfin, a national real estate company, published research on October 28 looking at property tax increases in the nation’s 50 largest metros. They specifically looked at rate increases from 2019 to 2024. Their research found the Atlanta area has witnessed a 65.8% jump in the average monthly property taxes. Only Indianapolis (66.7%) saw a higher increase.
The median monthly property tax payment in metro Atlanta is now $239, as of August 2024. This would translate to an annual tax bill of $2,868. MHF News is not aware of a data set publishing the average property tax bill specifically in Henry County.
According to Redfin, 48 of the nation’s 50 largest metros saw property taxes increase in the last five years. Only Las Vegas and Pittsburgh saw taxes decrease.
Georgia Constitutional Amendment 1, 2024
Georgia lawmakers this year sponsored an effort to slow down the property tax increases on homeowners. The voters will now consider it on the November ballot. That ballot measure is constitutional amendment 1, or the homestead property tax exemption.
The amendment, if voters approve it, will create a new statewide floating homestead exemption. It would cap annual property tax increases, for owner-occupied homes, at the rate of inflation. Local governments — counties, cities and school boards — have an opt-out period from January 1 to March 1, 2025. They must hold three public hearings during that time before they can vote to opt-out.
Election Day is Tuesday, November 5. For a full summary of state and local ballot questions in Henry County, visit our article here.
Featured image shows homes in a subdivision. stock photo.
