Taxpayers and Homeowners receive tax breaks for the second year in a row

Taxpayers and Homeowners receive tax breaks for the second year in a row

The Georgia General Assembly wrapped up its 2023 legislative session on Wednesday, March 29th.

The Georgia House and Senate on Wednesday agreed on a $32.4 billion budget, which includes a $2,000 raise for teachers. This raise will bring the average teacher salary to $61,000 a year, the highest in the Southeast.

Taxpayers will also receive some money back from their income and property tax bills. Georgians who filed tax returns for the 2021 and 2022 tax years will receive up to $250 if single-filing and up to $500 if filing jointly. In addition, homeowners will receive an extra one-time exemption on the value of their homes at tax time, a move expected to save Georgians an average of about $500.