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 400N Market Brief
The 400 North Association of REALTORS® (400N) Market Brief is compiled by Georgia Multiple Listing Service (GAMLS). For more information on details of this month's report, please contact the Association at 770.845.4008.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the 400 North Association of REALTORS®
The 400 North Association serves as a central source of information for our members and our main focus are real estate education, the promotion of professionalism in our industry and representing our REALTOR® members with legislative initiatives to create positive change for the real estate community. Throughout its history, the 400 North Association has exerted its influence in civic affairs in its capacity of representing a substantial segment of the business community across the Forsyth, Dawson and Lumpkin area. The Association has contributed to various charities over the years by hosting fundraisers.
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.