State Issues
State Considers Cap On Assessed Value Of Homesteaded Property
March 22, 2024
Early in this year’s legislative session, State Senator Chuck Hufstetler (R-Rome) filed Senate Bill 349, which would cap the assessed value on a homeowner’s primary residence at no more than a 3% per year increase.
If the bill passes, it would require a state constitutional amendment approved by the voters of Georgia before it would become law. The Senate passed the bill and the bill passed the House Ways & Means Committee meeting on March 14th, with language from two other bills added to the measure, House Bill 1115 and House Bill 1031.
At this time, it is unsure whether the bill will make it to the House floor before the end of the session.
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.