ATLANTA (AP) — Georgians will owe less in income taxes this year and will get a chance in November to vote to cap increases in how homes are valued for property taxes.
Republican Gov. Brian Kemp on Thursday signed measures cutting income taxes by a projected $700 million on residents and businesses. The income tax cuts are retroactive to Jan. 1.
“All of these bills help keep money where it belongs — in the pockets of our hardworking families,” Kemp said during a signing ceremony in Augusta, Georgia.
Election-year tax cuts are always popular in the state, and all 236 state House and Senate seats are on the ballot this year. All the measures were supported by at least some Democrats, while receiving overwhelming Republican support.
Georgia’s personal income tax already dropped on Jan. 1 to a flat tax of 5.49%. Before that, the state had a series of income tax brackets that topped out at 5.75%.
Meta's newest AI model beats some peers. But its amped
China denounces EU's pretext for anti
World Bank to further support health, nutrition in Laos
German chancellor arrives in SW China
Barcelona to get floating desalination plant to help fight drought in northeastern Spain
China's top political advisory body holds 3rd plenary meeting of annual session
Chinese traditional music charms Maltese audience
'Xi Jinping on the Belt and Road Initiative' informs and inspires readers in Chile
Judge hears testimony in man's bid for a new trial for girl's 1988 killing
Canadian gov't announces plan to solve national housing crisis
Sheetz convenience store chain hit with discrimination lawsuit
Israel confirms killing of Hamas' deputy military commander