---
title: HR 1244. Ad valorem tax; business enterprises; rate of assessment of 1,000 or more single family residential properties used for rental income; provisions - CA
collection: bills
id: 2025-2026/hr1244
cite_as: HR 1244, 2025-2026 Regular Session (Ga.)
canonical_url: https://georgiacommons.org/bills/2025-2026/hr1244
md_url: https://georgiacommons.org/bills/2025-2026/hr1244.md
text_url: https://georgiacommons.org/bills/2025-2026/hr1244/text
source_url: https://www.legis.ga.gov/legislation/72903
date: 2026-02-09
status: introduced
corpus_version: bills-2026-09-13
license: Public record of the Georgia General Assembly, via LegiScan; see about.md
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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omitted: votes and history
omitted_chars: 129
omitted_url: https://georgiacommons.org/bills/2025-2026/hr1244.md?full=1
bill_number: HR 1244
session: 2025-2026 Regular Session
session_slug: 2025-2026
chamber: House
bill_type: resolution
status_date: 2026-02-05
last_action: House Second Readers
sponsors:
- Derrick McCollum
- Mary Oliver
- Phil Olaleye
- Esther Panitch
- Joseph Gullett
- Chuck Efstration
text_version: Introduced
has_text: true
legiscan_url: https://legiscan.com/GA/bill/HR1244/2025
upstream_id: 2110027
summaries_model: claude-sonnet-5
topic_tags:
- property taxes
- corporate landlords
- housing affordability
- constitutional amendment
- homestead tax relief
---
# HR 1244. Ad valorem tax; business enterprises; rate of assessment of 1,000 or more single family residential properties used for rental income; provisions - CA
## Text
House Resolution 1244
By: Representatives McCollum of the 30th, Oliver of the 84th, Olaleye of the 59th, Panitch of
the 51st, Gullett of the 19th, and others
A RESOLUTION
Proposing an amendment to the Constitution of the State of Georgia so as to provide that any
business enterprise, including, but not limited to, private equity, having an interest in 1,000
or more single-family residential properties within this state used primarily for purposes of
generating rental income shall be subject to an ad valorem tax assessment of 100 percent; to
provide for the subclassification of business enterprise property for ad valorem taxation
purposes; to require that any proceeds from the ad valorem taxation of business enterprise
property be used to reduce the ad valorem property tax bill on homesteads in the taxing
jurisdiction within which such business enterprise property is located before such proceeds
may be used for any other purpose; to provide for related matters; to provide for submission
of this amendment for ratification or rejection; and for other purposes.
BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Article VII, Section I, Paragraph III of the Constitution is amended by adding a new
subparagraph to read as follows:
"(f.2)(1)(A) The General Assembly shall be authorized by general law to establish a
separate class of property for ad valorem taxation purposes that includes only tangible
real property that is owned, wholly or partially, by a business enterprise that holds an
interest in 1,000 or more single-family residential properties within this state which are
used for the primary purpose of generating rental income and meets such further
requirements as may be prescribed by general law. Such property shall be known as
'business enterprise property.' The General Assembly may provide by general law for
definitions of the terms 'affiliate,' 'business enterprise,' 'business enterprise property,'
'homestead,' and any other terms necessary to effectuate the terms of this subparagraph.
(B) Business enterprise property shall be assessed at 100 percent of its fair market
value and shall be taxed on a levy made by each respective taxing jurisdiction
according to 100 percent of the property's fair market value; provided, however, that
the proceeds from any tax collected on such property shall be used to reduce the ad
valorem property tax bill on homesteads in the taxing jurisdiction within which the
business enterprise property is located before such proceeds may be used for any other
purpose.
(2) The only purposes authorized by the subclassification of business enterprise
property as provided by this subparagraph shall be to allow the General Assembly by
general law to:
(A) Provide that the Department of Revenue or its successor shall appraise business
enterprise property at its fair market value using any combination of appraisal
methodologies otherwise provided by general law for establishing the fair market value
of real property, provided that such methodology is not subject to an exception
authorized by subparagraph (b), (c), (d), (e), (f), (f.1), or (g) of this Paragraph;
(B) Provide for a separate system by which to appeal appraisals of and determinations
made related to business enterprise property;
(C) Require that any proceeds collected from an ad valorem tax on business
enterprise property be primarily used to reduce the ad valorem property tax bill on
homesteads in the taxing jurisdiction; and
(D) Provide for penalties and other means of enforcement."
SECTION 2.
The above proposed amendment to the Constitution shall be published and submitted as
provided in Article X, Section I, Paragraph II of the Constitution. The ballot submitting the
above proposed amendment shall have written or printed thereon the following:
"( ) YES Shall the Constitution of Georgia be amended so as to provide that any
business enterprise, including, but not limited to, private equity, having an
( ) NO interest in 1,000 or more single-family residential properties within this state
used primarily for purposes of generating rental income shall be subject to
an ad valorem tax assessment of 100 percent, the proceeds of which would
be required to be used to reduce Georgians' residential property taxes?"
All persons desiring to vote in favor of ratifying the proposed amendment shall vote "Yes."
All persons desiring to vote against ratifying the proposed amendment shall vote "No." If
such amendment shall be ratified as provided in said Paragraph of the Constitution, it shall
become a part of the Constitution of this state.
## Summaries written by Georgia Commons
The following was written by claude-sonnet-5 from the text above and is not part of the resolution. Quote the text, not the summary.
A Georgia House resolution would ask voters to amend the state constitution so large-scale corporate landlords owning 1,000 or more single-family rental homes face a 100 percent property tax assessment, with proceeds used to lower homeowners' property tax bills.
### Plain-language summary
Currently, Georgia's constitution limits how the General Assembly can classify and tax different types of property. This resolution proposes a constitutional amendment creating a new property subclass called 'business enterprise property,' covering real estate owned by a business enterprise, including private equity firms, that holds an interest in 1,000 or more single-family homes in Georgia used mainly to generate rental income.
That property would be assessed and taxed at 100 percent of its fair market value, a higher rate than typical property tax assessments. Any tax proceeds collected would first have to go toward reducing property tax bills for homesteads (owner-occupied primary homes) in the same taxing jurisdiction before being used for anything else. The General Assembly would still need to pass separate general laws to define terms, set appraisal methods, and create an appeals process. Because this is a constitutional amendment, it must be approved by voters in a statewide referendum before taking effect.
### What it does
- Creates a new constitutional property subclass called 'business enterprise property' for real estate held by large-scale landlords owning 1,000 or more single-family rental homes in Georgia.
- Sets the assessment and tax rate for this property at 100 percent of fair market value, higher than typical property assessment rates.
- Requires that tax proceeds from this property be used first to lower property tax bills on owner-occupied homes in the same taxing jurisdiction.
- Authorizes the General Assembly to pass laws letting the Department of Revenue use specific appraisal methods and create a separate appeals system for this property class.
- Sends the proposed constitutional amendment to Georgia voters for ratification or rejection in a statewide referendum.
### Who it affects
Large business enterprises, including private equity firms, that own or hold interests in 1,000 or more single-family rental homes in Georgia; homeowners in taxing jurisdictions where such properties are located, who could see reduced property tax bills; the Department of Revenue, which would appraise this property; and Georgia voters, who must approve the amendment.
### Why it matters
If approved by voters and implemented through follow-up legislation, large corporate landlords with big single-family rental portfolios would pay a notably higher property tax rate, and that extra revenue would go toward cutting property tax bills for regular homeowners in the same area rather than general government spending.
### Key provisions
- Section 1 adds a new subparagraph (f.2) to Article VII, Section I, Paragraph III of the Georgia Constitution, creating the 'business enterprise property' classification.
- The new provision applies to businesses holding an interest in 1,000 or more single-family residential properties used primarily to generate rental income.
- Business enterprise property must be assessed and taxed at 100 percent of fair market value, unlike other property classes that may have exceptions.
- Tax proceeds must be used first to reduce homestead property tax bills in the same taxing jurisdiction before any other use.
- The General Assembly is authorized to pass general laws setting appraisal methods, appeal procedures, and enforcement penalties for this property class.
- Section 2 sets the ballot language for the statewide referendum asking voters to approve or reject the amendment.
## Status
- Status: Introduced (2026-02-05)
- Last action: House Second Readers (2026-02-09)
- Sponsors: Derrick McCollum, Mary Oliver, Phil Olaleye, Esther Panitch, Joseph Gullett, Chuck Efstration
- Official page: https://www.legis.ga.gov/legislation/72903
> The history, votes, and amendments (129 characters) are at https://georgiacommons.org/bills/2025-2026/hr1244.md?full=1