HR1047: HR1047 State government; rate of ad valorem tax assessment of a single family residential property; provisions - CA

Georgia currently taxes most residential property using assessment rules set by the legislature, without a special category aimed at large-scale corporate landlords. This resolution would amend the state Constitution (Article VII, Section I, Paragraph III) to let the General Assembly create a separate property class called 'business enterprise property.' It would apply only to single-family homes owned by a business enterprise holding an interest in at least 100 such properties in Georgia that are used mainly to generate rental income. Those properties would be assessed and taxed at 100 percent of their fair market value, rather than any lower assessment rate that might otherwise apply. The amendment also lets the legislature authorize the Department of Revenue to appraise these properties using existing valuation methods and to set up a separate appeals process for those appraisals. Because this is a constitutional amendment, it must be approved by Georgia voters in a statewide referendum before taking effect.

• Creates a constitutional path for a new property tax subclass called 'business enterprise property' covering single-family rental homes owned by large landlords.
• Applies only to business enterprises holding an interest in 100 or more single-family residential rental properties in Georgia.
• Sets the assessment and tax levy rate for this property class at 100 percent of fair market value, with no reduced assessment.
• Lets the Department of Revenue use existing appraisal methods to value these properties, without applying certain other exceptions in the Constitution.
• Allows the General Assembly to create a separate appeals system specifically for challenges to these appraisals.
• Requires the proposed amendment to go before Georgia voters for ratification or rejection.

Large corporate or institutional landlords that own 100 or more single-family rental homes in Georgia, the Department of Revenue, local taxing jurisdictions that levy property taxes, and Georgia voters, who would decide whether to ratify the amendment.

If ratified, large-scale landlords owning many rental houses could see their property tax assessments rise to full fair market value, potentially increasing their tax bills, while the legislature would still need to pass separate laws defining terms and setting appraisal and appeal procedures before the change takes practical effect.

• Section 1 adds subparagraph (f.2) to Article VII, Section I, Paragraph III, authorizing the General Assembly to create the 'business enterprise property' subclass by general law.
• The subclass applies only to businesses holding an interest in at least 100 single-family residential properties in Georgia used primarily for rental income.
• Business enterprise property must be assessed and taxed at 100 percent of fair market value by each taxing jurisdiction.
• The General Assembly must define 'business enterprise' and 'single-family residential property' through general law.
• The Department of Revenue may appraise these properties using existing methodologies, but not those tied to certain other constitutional exceptions.
• The General Assembly may set up a distinct appeals process for appraisals and determinations affecting this property class.
• Section 2 requires the amendment to be submitted to voters as a ballot question asking whether to approve the new assessment rate.

1. 2026-01-29House Second Readers (House)
2. 2026-01-28House First Readers (House)
3. 2026-01-27House Hopper (House)

• Dar'shun Kendrick (D, HD-095)Primary sponsor
• Stacey Evans (D, HD-057)
• Jasmine Clark (D, HD-108)

• property taxes
• constitutional amendment
• rental housing
• corporate landlords
• ad valorem tax