Homeowners could soon see savings - WALB.com, Albany News, Weather, Sports

Homeowners could soon see savings

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February 28, 2006

Albany-- It's a plan that could keep more money in your pocket. Some state lawmakers want to make sure your property taxes don't go sky high.

A House committee unanimously passed a plan for a constitutional amendment that would limit property assessment hikes. The tax value of your home could never increase more than 3 percent a year as long as you own it.

The problem of rapidly rising taxes often affects older Georgians who bought their homes years ago. If the value goes way up, they have a hard time affording the taxes. South Georgia homeowners welcome any help.

"That would be a very good benefit to know that as I'm approaching my older years that those costs are locked in and when you start talking about living on a fixed income," says homeowner Nancy Martin.

The bill still has a long way to go. The amendment must be voted on by the full House and Senate and approved by Georgia voters.

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