(GEORGIA NEWS NETWORK) – Georgia voters approved a cap on property tax increases Tuesday. Property assessments will now be capped at the inflation rate for the previous year, thus capping tax increases. Municipalities will be able to opt out of the cap if they pass a resolution and hold three public hearings. The change goes into effect January 1. More than 60 percent of voters approved the measure.
*Voters in Cobb and Gwinnett counties rejected transit tax proposals. Cobb’s plan was to raise $10 billion for transit stations and 100 miles of new bus routes. The vote against it was 62%-38%. In Gwinnett, 53% of voters rejected a $17 billion, 30-year tax for transit projects.