HR 1472: General Assembly; assessment and taxation of affordable housing use property; provide - CA

This resolution proposes a constitutional amendment rather than a regular law change. It would add language to Georgia's Constitution (Article VII, Section I, Paragraph III) authorizing the General Assembly to pass a general law defining and taxing 'affordable home use property,' meaning single-family homes on five acres or less that are sold to a single low-income family. To get this special tax treatment, a property owner would have to sign a covenant, essentially a binding promise, limiting the resale or purchase price of the home so it stays affordable to lower-income households. If that promise is broken within ten years, the owner would have to pay back the tax savings and could face additional penalties. Because it is a constitutional amendment, it must go to Georgia voters, who would see a yes-or-no ballot question asking whether to approve it.

• Authorizes the General Assembly to pass a future general law creating special property tax assessment and taxation rules for 'affordable home use property.'
• Limits the affected property to single-family homes on five acres or less sold to a single low-income family owner.
• Requires property owners who want this tax treatment to sign a covenant restricting the home's purchase price to keep it affordable to lower-income households.
• Creates a recapture penalty: if the affordability covenant is broken within ten years, the owner must repay the tax savings and may face other penalties.
• Puts the constitutional amendment to a statewide ballot vote, with a yes or no question for voters to ratify or reject it.

Low-income families seeking to buy affordable single-family homes, property owners who enter affordability covenants, county tax assessors who would administer the new assessment method, and Georgia voters, who must approve the constitutional change at the ballot box.

If ratified by voters and followed by implementing legislation, this could lower property tax bills on qualifying affordable homes, potentially helping sustain lower purchase prices for low-income buyers, while owners who break the affordability promise early would owe back taxes and possible penalties.

• Section 1 adds a new paragraph to Article VII, Section I, Paragraph III of the Georgia Constitution letting the General Assembly define and set assessment/taxation methods for 'affordable home use property.'
• The property must be intended for private single-family residential use, not exceed five acres, and be sold to a single low-income family owner.
• Owners must enter a covenant controlling the home's purchase price to keep it affordable to lower-income households in order to get the tax benefit.
• A breach of the covenant within ten years triggers recapture of the tax savings and may lead to other appropriate penalties.
• Section 2 requires the amendment to be submitted to voters with a specific yes/no ballot question, and it becomes part of the Constitution only if ratified.

1. 2026-03-03House Second Readers (House)
2. 2026-02-26House First Readers (House)
3. 2026-02-25House Hopper (House)

• Marvin Lim (D, HD-098)Primary sponsor
• Karen Lupton (D, HD-083)
• David Wilkerson (D, HD-038)
• Kasey Carpenter (R, HD-004)

• affordable housing
• property taxes
• constitutional amendment
• low-income housing