State Issues
Proposed 2025 Budget Is 11.3% Higher Than 2024 Original Budget
March 22, 2024
The Georgia House passed their version of the FY 2025 budget earlier this month and the Senate finalized their version Tuesday, March 26th. Negotiations between the House and Senate will now begin so a final version can be approved before the session ends on Thursday, March 28th.
The proposed $36.1 billion 2025 state budget includes an increase of $3.6 billion or 11.3% over the original FY 2024 budget.
Kemp’s budget plan, endorsed by House and Senate leaders included raises for Georgia teachers and rank-and-file workers. If approved, other employees, such as those in state law enforcement, will receive a 4% raise plus an extra $3,000.
The House version of the budget includes funding for several initiatives to support housing and economic development programs. These include:
- $2.4 billion in funding for Georgia’s transportation infrastructure.
- $2.1 million for a comprehensive overhaul of the Professional Licensing Boards Division
- $250,000 to continue implementation of the Electric Vehicle Charging Pilot program.
- $1 million to create the accountable housing initiative.
- $3.7 million for the State Housing Trust Fund
- $6 million in existing funds for the Rural Workforce Housing Initiative.
About the ARA Market Brief
The Atlanta REALTORS® (ARA Market Brief is compiled by First Multiple Listing Service (FMLS) and provides the only regionally focused synopsis of monthly sales and home prices for single-family residential properties. The Market Brief covers the following 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding, and Rockdale.
The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Association at 404.250.0051.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Atlanta REALTORS® Association
The Atlanta REALTORS® Association (ARA) has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. With over 14,000 members, Atlanta is the largest association in Georgia and is considered to be one of the strongest and most successful REALTOR® organizations in the nation. ARA serves as a central source of information for its members, mainly focusing on real estate education, the promotion of professionalism in the industry, and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.
About First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.