RPAC
SB 33 Direct Impacts on Commercial Property
April 28, 2026
As you may know, Senate Bill 33 (SB 33), as passed, primarily targets homestead (residential) property tax relief, which has several direct and indirect consequences for commercial property owners.
Excluded from Assessment Caps: Unlike owner-occupied homes, commercial properties are not eligible for the new mandatory assessment caps. While taxable home values are capped at a 3% annual increase (or the rate of inflation), the taxable value of properties like apartments, factories, offices, and retail stores will continue to be assessed at full market value.
Potential Tax Burden Shift: Because local governments (cities, counties, and school districts) may lose revenue due to capped residential assessments, they might choose to raise millage rates to cover budget shortfalls. Since commercial properties do not benefit from the assessment cap, a millage rate increase would apply to their full market value, potentially resulting in a disproportionate tax increase for commercial owners compared to homeowners.
Sales Tax Impacts: The bill allows counties to implement a new 1% Local Homestead Option Sales Tax (LHOST) to further fund property tax reductions for homeowners. Commercial entities operating in these counties may see a shift in local consumer spending or increased operational costs related to collecting this additional sales tax.
Summary of SB 33 Provisions
The table below summarizes the core differences in how SB 33 treats different property types:
Feature | Homestead (Residential) | Commercial / Non-Owner Occupied |
Assessment Cap | Capped at 3% or inflation (whichever is higher) | No cap; assessed at market value |
Relief Mechanism | Eligible for millage rollbacks funded by sales tax | Only benefits if the millage rate is reduced district-wide |
Exemptions | Mandatory statewide base year exemption |
About the PCBR Market Brief
The Pickens County Board of REALTORS® (PCBR) Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.
*Each month, the numbers reported for the previous month are updated to reflect additional recordings.
About the Pickens County Board of REALTORS®
The Pickens County Board serves as a central source of information for our members and our main focus are real estate education, the promotion of professionalism in our industry and representing our REALTOR® members with legislative initiatives to create positive change for the real estate community. Throughout its history, the Pickens County Board has exerted its influence in civic affairs in its capacity of representing a substantial segment of the business community across the Pickens area. The Board has contributed to various charities over the years by hosting fundraisers.
About First Multiple Listing Service
First Multiple Listing Service (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded in 1957 by a group of Brokers who wanted to share their listings and connect buyers and sellers. Today FMLS is the largest MLS in Georgia & the 4th largest MLS in the United States, serving nearly 54,000 real estate Agents & Brokers. For additional information or to start a discussion about how to partner with FMLS please contact join@fmls.com.