24 LC 50 0935S
The House Committee on Ways and Means offers the following substitute to SR 82:
A RESOLUTION
Proposing an amendment to the Constitution so as to provide for a reduction in the rate of1
the ad valorem tax assessment of certain timber at sale or harvest; to require state2
appropriations to each county, municipality, or school district affected by such reduced rate3
of taxation; to provide for related matters; to provide for the submission of this amendment4
for ratification or rejection; and for other purposes.5
BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA:6
SECTION 1.7
Article VII, Section I, Paragraph III of the Constitution is amended by revising subparagraph8
(e)(2) and adding subparagraph (e)(3) to read as follows:9
"(2) Except as provided in subparagraph (e)(3) of this Paragraph, that That standing10
timber shall be assessed only once, and such assessment shall be made following its11
harvest or sale and on the basis of its fair market value at the time of harvest or sale. Said12
assessment shall be two and one-half times the assessed percentage of value fixed by law13
for other real property taxed under the uniformity provisions of subparagraph (a) of this14
Paragraph but in no event greater than its fair market value; and for a method of15
temporary supplementation of the property tax digest of any county if the implementation16
of this method of taxing timber reduces the tax digest by more than 20 percent, such17
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supplemental assessed value to be assigned to the properties otherwise benefiting from18
such method of taxing timber.19
(3)(A) From January 1, 2025, through December 31, 2034, that standing timber shall20
be assessed as otherwise provided in subparagraph (e)(2) of this Paragraph, except that21
the rate of the assessment under subparagraph (e)(2) of this Paragraph shall be reduced22
to the same assessed percentage of value fixed by law for other real property taxed23
under the uniformity provisions of subparagraph (a) of this Paragraph:24
(i) Within any county following a declaration of a natural disaster for such county25
by the Governor; and26
(ii) On up to $100,000.00 in total ad valorem taxes assessed under this27
subparagraph (e)(3)(A) on a taxpayer within a given county during a given year, after28
which any additional such timber shall be assessed at the rate provided in29
subparagraph (e)(2) of this Paragraph.30
(B) The General Assembly shall annually appropriate to each county, municipality,31
or school district that experienced an ad valorem revenue reduction during the32
preceding tax year resulting from the reduction in the rate of assessment of timber from33
the rate of assessment provided for in subparagraph (e)(2) to the rate of assessment34
provided for in subparagraph (e)(3)(A) of this Paragraph, an amount equal to 50 percent35
of any such revenue reduction for the first 3 percent of such taxing jurisdiction's total36
timber harvest ad valorem tax revenue for such tax year and an amount equal to 10037
percent of such revenue reduction that exceeds 3 percent of such taxing jurisdiction's38
total timber harvest ad valorem tax revenue for such tax year."39
SECTION 2.40
The above proposed amendment to the Constitution shall be published and submitted as41
provided in Article X, Section I, Paragraph II of the Constitution. The ballot submitting the42
above proposed amendment shall have written or printed thereon the following:43
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"( ) YES44
( ) NO 45
46
47
Shall the Constitution of Georgia be amended so as to provide for a reduction
in the rate of the ad valorem tax assessment of certain timber at sale or harvest
and to require state appropriations to each county, municipality, or school
district affected by such reduction?"
All persons desiring to vote in favor of ratifying the proposed amendment shall vote "Yes." 48
All persons desiring to vote against ratifying the proposed amendment shall vote "No." If49
such amendment shall be ratified as provided in said Paragraph of the Constitution, it shall50
become a part of the Constitution of this state.51
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