25 LC 50 1020
House Bill 281
By: Representatives Smith of the 138
th
, Williamson of the 112
th
, Blackmon of the 146
th
,
Kelley of the 16
th
, and Crowe of the 118
th
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad
1
valorem taxation of property, so as to change certain definitions regarding such taxation; to2
provide for an effective date; to repeal conflicting laws; and for other purposes.3
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:4
SECTION 1.5
Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to ad valorem6
taxation of property, is amended in Code Section 48-5-2, relating to definitions regarding7
such taxation, by revising paragraph (1) as follows:8
"(1) 'Current use value' of bona fide conservation use property means the amount a9
knowledgeable buyer would pay for the property with the intention of continuing the10
property in its existing use and in an arm's length, bona fide sale and shall be determined11
in accordance with the specifications and criteria provided for in subsection (b) of Code12
Section 48-5-269."13
H. B. 281
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SECTION 2.
14
This Act shall become effective upon its approval by the Governor or upon its becoming law15
without such approval.16
SECTION 3.17
All laws and parts of laws in conflict with this Act are repealed.18
H. B. 281
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