Tax Policy and Reform
Data Snapshot
With property assessments mailed and tax bills on the horizon, it’s worth looking at exemptions for one of the most vulnerable populations: the elderly. In “Age-Based Property Tax Exemptions in Georgia,” the authors describe the prevalence of these exemptions across the state and offer a standardized way to determine the financial impact to local budgets.
The chart at the right shows the percentage of county school districts in Georgia with some age-based tax exemption in place.
What does this cost taxpayers? In Cobb County, elderly residents have one of the most generous exemptions in the state, allowing everyone 62 and older to be exempt from the Cobb County School District portion of their property taxes — on the full value of their homes. This costs the district nearly 7 percent of its budget, or about $55 million annually.
Percentage of Ga. County School Districts
with Age-Based Exemptions
Notable Research
State Tax Reform Efforts: 2010-2015
This report documents comprehensive tax reform efforts of select states from 2010 to 2015, showing what changes have been contemplated, which actually passed, and potential lessons from states’ tax reforms during this period.
The Impact of Interstate Mobility on the Effectiveness of Property Tax Reduction in Georgia
In 2008, Georgia policymakers considered eliminating school property taxes on homesteaded properties and replacing the lost revenue with additional sales tax revenue. Although it did not pass, it came close. This study looks at the economic effects of this proposal using a computable general equilibrium (CGE) model combined with a microsimulation model.
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