The Georgia State Legislature ended its 2024 legislative session on March 29, having placed five measures on the ballot for the general election on Nov. 5, 2024. Three measures are constitutional amendments, and two are property tax exemptions.
The legislature referred two ballot measures to amend state law to increase property tax exemptions.
One measure would increase the personal property tax exemption from $7,500 to $20,000. The exemption would exclude from taxation property owned by a taxpayer within a county (except motor vehicles, trailers, and mobile homes) with a fair market value of $20,000 or below. Personal property includes furniture, fixtures, machinery, equipment, inventory, and other property used in a business, as well as aircraft and boats owned by an individual or corporation.
