Jhe Governor of Georgia, Brian Kempunveiled a number of tax refund schemes intended to help WE citizens face inflation.
In its revised budget proposal for 2022 and 2023, Kemp said it would consider returning a total of $2 billion in property and income tax refunds.
“As home prices soar across the country, local property tax bills here in Georgia are hitting homeowners especially hard,” Kemp said.
“For families struggling to make ends meet, I know that higher mail-in bills can force them to cut back on other household necessities.”
How much are direct payments from Georgia?
Single registrants would receive $250, heads of household with dependents would receive $375 and married couples would receive $500 as part of the income reduction. It would look like the direct payments the state started handing out in May.
Around $500 would be the average refund amount. If residents meet all requirements, they could be eligible for up to $1,000.
Who is eligible for Georgian tax refunds?
Details of eligibility for both payments are not yet clear, although the income tax refund may look like eligibility under the round which was distributed to taxpayers in May.
Residents who worked full-time and submitted tax returns for 2020 and 2021 were eligible for these refunds.
An individual with a partial-year tax filing status was eligible for a “prorated refund” for the years 2020 and 2021.
Also, your reimbursement was reduced if you owed money to the state, such as child support.
Of course, this time around, eligibility would apply to 2021 and 2022 tax returns.
Why does Georgia provide direct payments?
The decision was made as Kemp faces challenge from Democratic political leader and suffrage activist Stacey Abrahams for the governor and that the state would rely on a budget surplus estimated at 5 billion.
Abrahams unveiled a different idea that would offer a refund the same size as Kempthe new proposal. However, his proposal would include an income cap.
Every family with an income below $250,000 would be eligible for a refund payment.
The current governor has come under criticism from Abrahams to distribute subsidies to the wealthy.
Additionally, she said she would spend the remaining budget surplus on “fundamental challenges” such as Medicaid expansion, small business growth, rural broadband and workforce development. .
Uncertainty surrounds if or what Kemp will do with the remaining billions of surplus funds.
Also, keep in mind that even when a refund is supported, it’s not guaranteed to happen. The plan would need the approval of the general assembly, which will not meet again until January, to proceed.