GA SR55

Proposes a constitutional amendment to increase the maximum acreage for bona fide conservation use property tax assessment from 2,000 acres to 6,000 acres per single owner

Applies to bona fide agricultural and timber land, allowing larger properties to qualify for special tax assessment based on current use, annual productivity, and real property sales data

Requires property owners to enter into a covenant to continue the property in bona fide conservation use to receive the tax benefit

Breach of the conservation covenant within 10 years triggers recapture of tax savings and may result in additional penalties

Amendment must be submitted to Georgia voters for ratification or rejection as required by the state Constitution