Kemp signs sweeping Georgia tax cuts with local property relief

Georgia Gov. Brian Kemp signed HB 463 and SB 33 to overhaul taxes: cutting the income tax rate to 4.99% for 2026 with a scheduled glide to 3.99%, raising standard deductions, expanding retirement exclusions, and easing overtime/tips taxation. SB 33 blocks local governments from opting out of a statewide homestead exemption and creates a 1% Local Homestead Option Sales Tax to fund property-tax relief. Republicans say the measures bolster affordability and job growth, while critics warn about potential revenue impacts for schools and services and note constitutional challenges; a correction clarifies how the homestead cap is calculated.