GA SB24

Allows county governing authorities to extend preferential tax assessment periods for income-producing historic properties by up to 12 additional years beyond the standard 9-year period

Applies to both rehabilitated historic properties (Code Section 48-5-7.2) and landmark historic properties (Code Section 48-5-7.3)

Extension requires approval from the county governing authority and applies only to income-producing real property

Current law limits preferential assessment to 9 years, after which properties must undergo new rehabilitation to re-qualify; this amendment provides an alternative continuation option