HR 1047: State government; rate of ad valorem tax assessment of a single family residential property; provisions - CA

Georgia currently taxes single-family homes under general ad valorem (property) tax rules regardless of who owns them. This proposed constitutional amendment would authorize the General Assembly to create a new property subclass called 'business enterprise property' for tangible real property owned by a business enterprise that holds an interest in at least 100 single-family rental homes in the state. That property would be assessed and taxed at 100 percent of its fair market value, and lawmakers would define 'business enterprise' and 'single-family residential property' by general law. The amendment also lets the General Assembly authorize the Department of Revenue to use various appraisal methods for this property and to set up a separate appeals process for its valuations. Because this is a constitutional amendment, it must go before Georgia voters for ratification, with a ballot question asking whether to approve the change.

• Authorizes the General Assembly to create a new property tax subclass called 'business enterprise property' for large residential landlords by general law.
• Applies to real property owned, wholly or partially, by a business enterprise holding an interest in at least 100 single-family rental homes in Georgia.
• Sets the assessment and tax rate for this property at 100 percent of fair market value, taxed by each taxing jurisdiction accordingly.
• Directs the General Assembly to define 'business enterprise' and 'single-family residential property' through future general law.
• Allows the Department of Revenue to appraise this property using existing methodologies and lets lawmakers create a separate appeals process for it.
• Requires the proposed amendment to be submitted to Georgia voters for ratification or rejection via a ballot question.

Large business owners and corporate landlords who own or hold interests in 100 or more single-family rental homes in Georgia, county tax assessors and the Department of Revenue, local taxing jurisdictions that collect property taxes, and Georgia voters who will decide whether to ratify the amendment.

If ratified, this would let lawmakers tax large-scale corporate rental property owners differently than typical homeowners, potentially raising their tax bills to full fair market value assessment. This could affect how corporate landlords price rentals and how much revenue local governments collect from this property class.

• Section 1 adds subparagraph (f.2) to Article VII, Section I, Paragraph III of the Georgia Constitution, creating the 'business enterprise property' subclass.
• The subclass covers property owned by a business enterprise holding an interest in at least 100 single-family rental homes used primarily to generate rental income.
• Assessment and taxation for this property class is fixed at 100 percent of fair market value, unlike other exceptions listed in subparagraphs (b) through (g).
• The General Assembly may authorize the Department of Revenue to appraise this property using existing methodologies, excluding certain other listed exceptions.
• The General Assembly may create a separate appeals system for valuations of business enterprise property.
• Section 2 requires the amendment to be submitted to voters with a specified yes/no ballot question for ratification.

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

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

• property taxes
• corporate landlords
• single-family rentals
• constitutional amendment
• housing