25 LC 44 2898
Senate Bill 24
By: Senators Burns of the 23rd, Hufstetler of the 52nd, Hodges of the 3rd, Kennedy of the
18th, Brass of the 6th and others
A BILL TO BE ENTITLED
AN ACT
To amend Article 1 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated,
1
relating to general provisions relative to ad valorem taxation of property, so as to provide for2
an extension of preferential assessment periods for certain historic properties; to provide for3
related matters; to repeal conflicting laws; and for other purposes.4
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5
SECTION 1.6
Article 1 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to7
general provisions relative to ad valorem taxation of property, is amended in Code8
Section 48-5-7.2, relating to preferential assessment for rehabilitated historic property, by9
revising paragraph (4) of subsection (h) as follows:10
"(4) The expiration of nine years during which the property was classified and assessed11
as rehabilitated historic property; provided, however, that any such property may qualify12
thereafter as rehabilitated historic property if such property is subject to subsequent13
rehabilitation and qualifies under the provisions of this Code section; provided, further,
14
that, if approved by the governing authority of the county, the classification and15
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assessment under this Code section may continue for a period of up to an additional16
12 years for income-producing real property."17
SECTION 2.18
Said article is further amended in Code Section 48-5-7.3, relating to preferential assessment19
for landmark historic property, by revising subparagraph (e)(1)(E) as follows:20
"(E) The expiration of nine years during which the property was classified and assessed21
as landmark historic property; provided, however, that any such property may qualify22
thereafter as landmark historic property if such property is subject to subsequent23
rehabilitation and qualifies under other portions of the historic properties tax incentive24
program contained within the provisions of this Code section; provided, further, that,25
if approved by the governing authority of the county, the classification and assessment26
under this Code section may continue for a period of up to an additional 12 years for27
income-producing real property."28
SECTION 3.29
All laws and parts of laws in conflict with this Act are repealed.30
S. B. 24
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