Bill > SR55

This resolution proposes a constitutional amendment to Georgia's tax assessment laws that would increase the maximum acreage for "bona fide conservation use property" from 2,000 acres to 6,000 acres per single owner. The amendment would allow the General Assembly to create assessment and taxation methods for conservation land based on current use, annual productivity, and real property sales data. Property owners seeking this tax benefit would be required to enter a covenant promising to maintain the land in conservation use, with potential penalties for breaching the covenant within ten years. If ratified by voters, the amendment would expand the existing tax provisions for conservation lands, potentially providing tax relief for larger agricultural and timber land properties. The proposed change would be submitted to voters with a specific ballot question asking whether they support increasing the maximum qualifying acreage from 2,000 to 6,000 acres, with "Yes" and "No" voting options.

Budget and Finance

https://www.legis.ga.gov/legislation/69573