GA HR1472

Proposes an amendment to the Georgia Constitution to authorize special assessment and taxation methods for "affordable home use property," defined as single-family residential property not exceeding five acres intended for sale to low-income families

Requires property owners seeking the tax benefit to enter into a covenant controlling the purchase price to ensure housing remains affordable to lower income households

Imposes a 10-year compliance period; breaching the covenant within that timeframe triggers recapture of tax savings and potential additional penalties

Directs the General Assembly to establish definitions and specific assessment/taxation methods through future general law

Requires voter ratification through a ballot question asking whether the Constitution should be amended to provide for assessment and taxation of affordable housing use property