SAVANNAH, Ga. (WSAV) – A “yes” vote for Georgia Referendum A would increase a property tax exemption for tangible property worth $7,500 or less to properties worth $20,000 or less.
Tangible property means equipment like computers, copy machines and more.
This item stems from House Bill 808 . Sponsors of the bill, like Republican State Rep. Mike Cheokas, said the referendum would lessen tax burdens on tangible personal property like office supplies or equipment.
“It would be good for small businesses. Small businesses are the most innovative. They hire the most people. I think they need this little boost right now,” Cheokas said. “In the case of, let’s say, a beauty parlor. When they buy the chairs and the equipment, the straighteners and the dryers and all this stuff… they purchase those things, and they pay sales tax on it. So, tax has already been paid on it.”
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And with inflation, Cheokas said that the cost of that equipment has gone up, exceeding that $7,500 limit.