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 PBOR Market Brief
The Paulding Board of REALTORS® (PBOR) Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Paulding Board of REALTORS®
The Paulding Board of REALTORS® (PBOR) has been an instrumental factor in the growth of real estate in Paulding County, Georgia for more than a decade. PBOR 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 First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.