Local Issues
Governor Signs Legislation Granting Broad Tax Relief for Georgia Taxpayers
June 1, 2026
On May 11, Georgia Governor Brian Kemp signed two pieces of legislation into law, granting Georgia taxpayers significant tax relief following the passage of House Bill 463 (HB 463) and Senate Bill 33. These measures accelerate previously planned state income tax reductions while expanding property tax exemptions.
Effective January 1, 2026, HB 463 reduces Georgia’s state income tax rate from 5.19% to 4.99%, making Georgia one of the few states in the region with an income tax rate below 5%. The legislation also creates a pathway for additional future rate reductions tied to the state’s economic growth and revenue performance.
Alongside income tax reform, the Georgia General Assembly also approved Senate Bill 33 (SB 33), a comprehensive property tax reform measure and a major priority of Speaker Jon Burns. The legislation is designed to provide long-term property tax relief for homeowners while offering local governments additional tools to manage funding needs.
A key component of SB 33 expands statewide homestead exemption protections by requiring a floating homestead exemption statewide. This provision is intended to help limit rapid increases in taxable home values for qualifying homeowners, providing greater predictability and long-term tax stability for Georgia families.
About the GRBOR Market Brief
The Greater Rome Board of REALTORS® (GRBOR) Market Brief is compiled by Georgia Multiple Listing Service (GAMLS).For more information on details of this month's report, please contact the Board at 404.845.4025.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Greater Rome Board of REALTORS®
The Greater Rome Board of REALTORS® (GRBOR) has been an instrumental factor in the growth of real estate in Floyd County, Georgia for more than a decade. GRBOR serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About Georgia Multiple Listing Service
Since 1962 Georgia MLS has been providing real estate professionals with exceptional service, proven technology solutions, and unmatched value. With a laser-sharp focus on making the day-to-day tasks of our MLS subscribers more functional, more productive, and more profitable, we continue to implement the service blueprint that has led to our continued growth. For additional information or to start a discussion about how to partner with GAMLS please contact georgiamls@gamls.com.