Governor Brian Kemp in Augusta to sign 5 bills, cutting taxes for hard working Georgians

AUGUSTA, Ga. (WJBF)- Georgia Governor Brian Kemp spent part of his Thursday in Augusta for his ceremonial bill signing.

It was also a who’s who of state leaders at the Municipal Building, including Lieutenant Governor Burt Jones, House Speaker Jon Burns, House Representative Mark Newton, Senator Harold Jones, and House Representative Karlton Howard.

All of which came together at the Linda Beazley room to discuss and celebrate making a difference in Georgia’s economy.

“Americans right now are having to spend a thousand dollars more each month than what they were doing three years ago for the same quality of life. I’m proud that we have such a great team that makes days like this possible,” said Kemp.

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The governor joined Mayor Garnett Johnson and other state leaders to sign 5 bills that will boost Georgia’s economy.

He notably signed House Bill 1015, which has been a top priority for lawmakers in Atlanta since the bill was announced last December.

Two years ago, Governor Kemp signed House Bill 1437, which lowered the income state tax rate from 5.75% to 4.99%.

Kemp says Bill 1015 will represent the largest state income tax cut in state history, and will put a lot more money in Georgians pockets.

“With this legislation, we’re accelerating that cut by another 10 basis points, bringing us immediately to a flat tax rate of just 5.39%. That is a cut of 36 basis points this year alone, and it represents a savings of $3 Billion to our taxpayers over the next 10 years,” Kemp said.

The governor also says that bill is in addition to more than $5 Million that he and the general assembly have worked on in recent years.

Those efforts have been shown through special income tax refunds, property tax relief, and the suspension of Georgia’s motor and diesel fuel tax.

The second bill Kemp signed is House Bill 1023, which cuts Georgia’s corporate income tax to 5.39% for 2024.

“While we cut taxes for the people of our state, we also must ensure that we continue to attract jobs and investments to grow our economy, and create more opportunity for all those who call Georgia home. I believe this legislation will achieve that goal,” Kemp said.

The next bill Governor Kemp signed is House Bill 581, which provides property tax revisions, and enables counties across the state to provide a statewide homestead evalution.

“This limits the appreciation of property values to the inflation rate, helping prevent runaway property taxes, and keeping Georgians in their houses,” said Kemp.

Chief Appraiser Scott Rountree says this bill caught his eye the most, knowing what this will do for homeowners in the CSRA.

“If you’re a homeowner and family in Augusta and have a homestead exemption, it goes into play and provide a significant decrease in your annual tax bill,” said Rountree.

The fourth bill signed by the governor is House Bill 1021, which increases the state income tax dependent exemption by 33%.

“It would allow each taxpayer to deduct $4,000 per dependent. That is a full $1,000 more than the current $3,000 per dependent,” Kemp said. “Faced with rising costs for all things from groceries to childcare, this will provide a meaningful relief for families fighting the negative effects and bad policies we’ve seen come out of Washington D.C.”

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Augusta Mayor Garnett Johnson weighed in on the bills signed, and says they will aid Georgians who have dealt with inflation for several years.

“Everyone knows it costs more to go to the grocery store now. It costs more to do about anything, whether it’s taking your family out for an outing, to a movie. This tax relief gives families the opportunity to keep a little bit more of their earned money in their pockets,” said Johnson. “It gives them an opportunity to enjoy more of life outside of having to worry about the burden of paying bills and taxes.”

The last bill Governor Kemp signed is Senate Bill 496, who says it will “extend the sunsets” on two tax credits.

Those are the preservation of historic homes and structures through the year 2029, and the rural zone revitalization credit through the year 2032.

“It also broadens the criteria for a home to be certified as historic, so that more homes in Georgia can qualify to receive the rehabilitation of tax credit,” Kemp said.

The governor says though signing these bills is a step forward, there’s still plenty of work to do in Atlanta.

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