Bill > SR56

This bill proposes a constitutional amendment to increase the maximum acreage of land that can qualify for "bona fide conservation use property" assessment and taxation from 2,000 acres to 4,000 acres per single owner. The amendment aims to provide tax benefits for larger agricultural and timber lands by allowing them to be assessed based on current use, annual productivity, and real property sales data, instead of traditional property valuation methods. To receive these tax benefits, property owners must enter into a covenant promising to maintain the land's conservation use for a specified period. If the owner breaches this covenant within ten years, they would be required to recapture the tax savings and potentially face additional penalties. The proposed change will be submitted to Georgia voters for ratification, with the ballot specifically asking whether the constitution should be amended to increase the conservation use property acreage limit from 2,000 to 4,000 acres, with the stated purpose of protecting family farmland.

Budget and Finance

https://www.legis.ga.gov/legislation/69578