Georgia Voters Consider Property Tax Amendment

Prince George's County has implemented the Permanent Rent Stabilization and Protection Act to cap annual rent increases at 6% or the Consumer Price Index plus 3%, whichever is lower, with a 4.5% cap for senior housing, while exempting newer constructions and certain property types. Meanwhile, Georgia voters are considering a constitutional amendment to cap property tax increases for homeowners to match inflation rates, potentially offering relief to current homeowners but creating disparities for new buyers. The proposed measure could shift costs to new buyers and increase sales taxes to offset reduced revenues from property taxes. These legislative efforts highlight ongoing struggles to manage housing costs in the face of rising property values and inflation. Critics warn that such measures might discourage new housing development or lead to unintended financial burdens on future residents.