Georgia Senate gives final OK to tax cut, rebate legislation
ATLANTA, Ga. - Two bills that would put more money in Georgians’ pockets are headed to Gov. Brian Kemp’s desk.
The Georgia Senate on Thursday ed House Bill 111, which would lower the state’s income tax rate, and House Bill 112, which would give Georgians one-time income tax rebates between $250 and $500.
‘Honor of a lifetime’: Exiting Ga. chief justice shares thoughts
Chief Justice Michael P. Boggs sat for the last time on the bench of the Supreme Court of Georgia’s courtroom Tuesday, presiding over the first day of March 2025 oral arguments.
HB 111 accelerates an already-planned tax cut by reducing the state income tax rate from 5.39% to 5.19%, retroactive to Jan. 1. The rate will fall by an annual 0.10% over the next two years, resulting in a 4.99% rate in 2027.
“Thank you to the State Senate for ing our effort to bring Georgia’s income tax rate down another 20 basis points,” Gov. Kemp said in a statement on social media. “While other states are raising taxes, we’re cutting them and returning billions of dollars back to hardworking Georgians!”
Augusta leaders seek a local floating homestead exemption
On Tuesday, Augusta leaders decided to seek their own local floating homestead property tax exemption.
HB 112 would give Georgians who filed income tax returns for the 2023 and 2024 taxable years one-time income tax rebates.
Single Georgians or married Georgians filing a separate return would receive a $250 rebate. Heads of households would receive $375. Married couples filing a t return would receive $500.
MORE FROM NEWS 12
Georgia: Latest from the state Capitol
- Ga. legislative committee considers religious freedom bill
- Georgia has plenty of sports events, but no legal betting on them
- Ga. bill banning trans girls from playing women’s sports closer to becoming law
- Are insurers ripping off Georgia’s victims of Hurricane Helene?
- New Georgia labor commissioner named by Gov. Brian Kemp
- As Georgia tort reform nears a vote, ers, opponents consider impacts
- Ga. DNR warns people to clean bird feeders to prevent disease
“Thankful to see HB 112 receive final age today as we work to put money back in the pockets of hardworking Georgians,” Kemp said in a social media post. “I’m looking forward to g this legislation to help families fighting through high prices and inflation caused by the prior istration’s policies.”
ers say the measures are possible because of the state’s budget surpluses and reserves in recent years.
Copyright 2025 WRDW/WAGT. All rights reserved.
