GA HB1228

Business enterprises owning at least 1,000 single-family rental properties in Georgia would have those properties assessed at 100% of fair market value instead of the standard 40% assessment ratio

"Business enterprise" includes corporations, partnerships, LLCs, trusts, and other private entities, but excludes 501(c)(3) nonprofits; affiliate ownership is counted toward the 1,000-property threshold

Property owners must certify ownership to county tax assessors by January 1, 2027 for existing properties, or within 90 days of acquisition for new purchases; failure to comply results in a penalty of twice the tax difference plus interest

Tax revenue collected under this provision must first be used to reduce ad valorem tax bills for homesteads in the same taxing jurisdiction through adjustment credits shown on tax bills

Effective date contingent on voter ratification of a constitutional amendment at the November 2026 general election; automatically repealed January 1, 2027 if amendment fails