Bill > SB306

This bill modifies the requirements for property owners in Georgia who have a "bona fide conservation use property" covenant, which is an agreement to maintain eligible property for a specific conservation purpose for ten years to receive preferential property tax assessments. The key changes include requiring county tax assessors to send written notifications of a covenant's impending expiration via certified mail, at least 60 days in advance, instead of just first-class mail. If a property owner does not receive this certified notice, their covenant will automatically extend for one year. Furthermore, the bill provides a mechanism for reinstating covenants that expired within two years prior to July 1, 2025, if the property continued to qualify for preferential assessment and the owner claims they did not receive the required certified notice, and the tax assessors cannot prove they sent it. In such cases, the covenant will be considered reinstated, and the owner will only be responsible for the taxes they would have paid had the covenant not expired, with no additional fees or interest imposed on any appeals or refunds.

Budget and Finance

https://www.legis.ga.gov/legislation/71006