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GA SB354
Bill
Status
Introduced
2/9/2016
Primary Sponsor
William Jackson
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AI Summary
- Allows property owners aged 65 or older who have previously renewed a bona fide conservation use covenant without an intervening lapse to maintain their preferential tax assessment even if the property is no longer being used for its original qualified purpose
- Deems the primary use of such property to be wildlife habitat maintenance, provided the owner keeps the property in its natural condition or allows the land to lie fallow or idle
- Upon the property owner's death or any change in ownership, the covenant is automatically deemed breached without penalty and the preferential tax assessment is removed
- Requires any new owner of the property to independently meet all generally applicable conditions for a preferential conservation use assessment under Code Section 48-5-7.4
- Amends the previously reserved subsection (u) of O.C.G.A. § 48-5-7.4 to create this new exception to breach of covenant rules for qualifying elderly landowners
Legislative Description
Taxation and Revenue; provide an exception to a breach of covenant and qualified use for bona fide conservation use property
Last Action
Senate Read Second Time
2/26/2016
Full Bill Text
No bill text available