06 LC 25
4477
Senate
Resolution 1104
By:
Senators Harp of the 29th and Tolleson of the 20th
A
RESOLUTION
Proposing
an amendment to the Constitution so as to authorize an exemption from the
covenant requirement for bona fide conservation use property as to stream buffer
areas for purposes of current use assessment for ad valorem taxation; to provide
for related matters; to provide for submission of this amendment for
ratification or rejection; and for other purposes.
BE
IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
VII, Section I, Paragraph III of the Constitution is amended in subparagraph (e)
by striking the introductory language and subparagraph (1) thereof and inserting
in lieu thereof the following:
"(e)
The General Assembly shall provide by general law:
(1)
For the definition and methods of assessment and taxation, such methods to
include a formula based on current use, annual productivity, and real property
sales data, of: 'bona fide conservation use property' to include bona fide
agricultural and timber land not to exceed 2,000 acres of a single owner; and
'bona fide residential transitional property,' to include private single-family
residential owner occupied property located in transitional developing areas not
to exceed five acres of any single owner. Such methods of assessment and
taxation shall be subject to the following conditions:
(A)
A property owner desiring the benefit of such methods of assessment and taxation
shall be required to enter into a covenant to continue the property in bona fide
conservation use or bona fide residential transitional
use, except
that as to stream buffers established by law or local ordinance no such covenant
shall be required; and
(B)
A breach of such covenant within ten years shall result in a recapture of the
tax savings resulting from such methods of assessment and taxation and may
result in other appropriate penalties;
and"
SECTION
2.
The
above proposed amendment to the Constitution shall be published and submitted as
provided in Article X, Section I, Paragraph II of the Constitution. The ballot
submitting the above proposed amendment shall have written or printed thereon
the following:
|
"( ) YES
( ) NO
|
Shall
the Constitution of Georgia be amended so as to authorize an exemption from the
covenant requirement for bona fide conservation use property as to stream buffer
areas for purposes of current use assessment for ad valorem
taxation?"
|
All
persons desiring to vote in favor of ratifying the proposed amendment shall vote
"Yes." All persons desiring to vote against ratifying the proposed amendment
shall vote "No." If such amendment shall be ratified as provided in said
Paragraph of the Constitution, it shall become a part of the Constitution of
this state.