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GA SB458
Bill
Status
Passed
5/8/2018
Primary Sponsor
John Wilkinson
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AI Summary
- Expands acceptable proof of bona fide conservation use for parcels under 10 acres to include evidence of expenses incurred for or income generated from the qualifying use, in addition to the existing option of filing IRS Schedule E, Schedule F, or Form 4835; parcels of 10 acres or more are explicitly exempted from additional proof requirements
- Prohibits boards of tax assessors from requiring a recorded plat or survey to set the boundaries of the underlying residential property excluded from a conservation use covenant
- Awards litigation costs and reasonable attorney's fees to taxpayers who successfully appeal a denied conservation use application or a covenant breach determination to superior court
- Establishes detailed rules for tax refunds and additional billings resulting from appeal determinations, including a 60-day payment window, interest accrual at the rate specified in Code Section 48-2-35 (capped at $5,000 for refund interest accrued before day 61), and standard delinquent tax collection procedures thereafter
- Allows family owned farm entities to elect to discontinue a qualifying conservation use with a reduced penalty (limited to one year's tax difference rather than double the full covenant period) if the covenant has been renewed at least once without lapse, the property was in qualifying use for at least three years under the renewal, and any current shareholder, member, or partner is age 65 or older and held a beneficial interest since the prior covenant period
- Effective date is July 1, 2018
Legislative Description
Ad Valorem Taxation; conditions; family owned farmed entities; discontinue a qualifying use of bona fide conservation use property; provide
Last Action
Act 465
5/8/2018
Full Bill Text
No bill text available