State Issues
Property Tax Reform - What you need to know
April 27, 2026
As of April 2026, Senate Bill 33 has emerged as one of the most closely watched pieces of legislation affecting homeowners and the real estate market in Georgia. The bill now sits on the Governor’s desk, with a decision expected by early May. At its core, SB 33 is an attempt to address a growing concern: property taxes rising faster than people can keep up with. SB 33 seeks to address this issue by capping annual increases in property tax assessments at the rate of inflation.
Over the past several years, home values across Georgia have increased significantly. As assessed values climb, so do property tax bills—often at a pace that outstrips inflation. For many homeowners, especially those on fixed incomes, this has created a sense of “taxation by valuation,” where they are effectively penalized for market conditions beyond their control. This gap between inflation and property tax growth is a key driver behind the push for reform.
Another significant component of the bill is the creation of a Local Homestead Option Sales Tax, or LHOST. This provision would allow local governments to adopt a 1% sales tax to offset reductions in property tax revenue. The idea is to broaden the tax base by capturing contributions from visitors, commuters, and others who benefit from local services but do not pay property taxes.
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.