By: Sen. Larry Walker III (R–Perry)
Across our state, families are working hard, budgeting carefully and looking for opportunities to save for their future. Yet too often, rising costs make that goal feel harder to reach.
Young couples are trying to save for a first home while balancing childcare costs. Retirees on a fixed income worry as the prices of groceries and healthcare rise. Workers are picking up extra shifts, only to wonder where the additional paycheck went.
The responsibility we bear to keep the American Dream within reach guided our work during the 2026 Legislative Session. This year, the Senate focused on affordability and helping Georgians keep more of what they earn, save more of what they make and hold on to the homes they’ve worked a lifetime to own.
The Senate passed legislation that returns more than $1 billion directly to Georgia taxpayers through a fourth round of state income tax rebates this spring. For married couples filing jointly, that’s up to $500 back in their pockets towards groceries, school supplies, vehicle repairs, or other household expenses.
While Washington continues to debate bigger spending packages and higher deficits, Georgia has chosen a different path. Through our measured approach, we’re able to return money to taxpayers while continuing to invest in education, public safety and other priorities that keep our state moving forward.
This year, we passed House Bill 463 to help hardworking Georgians keep more of their paycheck by lowering the state personal income tax rate of 5.19% to 4.99% for 2026, with a path for annual reductions until the rate reaches 3.99%. As neighboring states continue competing for jobs and economic opportunity, moving toward a 3.99% income tax rate helps ensure Georgia remains one of the best places in America to live, work and do business.
Importantly, HB 463 recognizes that affordability challenges can look different for every family. Parents and caregivers will benefit from increased dependent exemptions, and seniors will be able to keep more retirement income tax-free. Single filers will see their standard deduction raised from $12,000 to $15,000, and married couples filing jointly will see their standard deduction increase from $24,000 to $30,000. Additionally, HB 463 allows up to $1,750 in overtime compensation and up to $1,750 in cash tips to be tax-free for eligible employees. These changes will strengthen Georgia’s competitive position for years to come.
That said, we know affordability is about more than what comes out of a paycheck. For many homeowners, one of the greatest concerns in recent years has been the rapid rise in property assessments. Families have watched their property values increase dramatically, only to see tax bills grow faster than their household incomes. In 2024, more than 60% of Georgia voters supported efforts to rein in runaway property tax assessments.
That’s why the General Assembly passed Senate Bill 33, the Homeownership Opportunity and Market Equalization Act, also known as the HOME Act. The HOME Act caps the annual increase in the homestead property assessment at the rate of inflation for all Georgia counties, cities, consolidated governments, and local school districts starting in 2027.
Simply put, homeowners will have greater protection from the kind of sudden tax spikes that can make it difficult for families and retirees to remain in the homes they’ve worked a lifetime to build. The HOME Act also creates a new local option that allows communities, with voter approval, to dedicate sales tax revenue toward additional property tax relief.
Whether it’s saving for retirement, paying for a child’s education, repairing a vehicle or investing in a small business, Georgians can make those decisions far better than any bureaucrat in Atlanta. The dollars we spend belong to taxpayers, and the decisions we make should always be guided by whether or not they help Georgians build a better future.
The American Dream doesn’t belong to those of us making decisions under the Gold Dome in Atlanta. It belongs to the men and women who work hard every day to keep a roof over their heads, provide for their families and contribute to the communities we call home.
As long as I have the privilege of serving in the Georgia Senate, I’ll continue working to ensure that dream remains within reach for future generations.
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Sen. Larry Walker III serves as President Pro Tempore of the Senate. He represents the 20thSenate District, which includes Bleckley, Dodge, Dooly, Laurens, Pulaski, Treutlen and Wilcox counties, as well as a portion of Houston County. He may be reached by phone at (404) 656-0095 or by email at Larry.Walker@senate.ga.gov.
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