SB24: SB24 Ad Valorem Taxation of Property; extension of preferential assessment periods for certain historic properties; provide

Georgia law lets owners of rehabilitated historic properties and officially designated landmark historic properties get a preferential (lower) property tax assessment for nine years, under O.C.G.A. §§ 48-5-7.2 and 48-5-7.3. After that nine-year period ends, the special assessment currently expires. This bill would let county governing authorities approve an extension of that preferential assessment for up to an additional 12 years, but only for income-producing real property. The extension applies to both the rehabilitated historic property program and the landmark historic property program. The properties would still need to meet the other existing qualification rules. The bill repeals any conflicting laws but does not state a separate effective date beyond the standard process for bills becoming law.

• Amends Georgia's rehabilitated historic property tax law (O.C.G.A. § 48-5-7.2) to allow county governing authorities to extend the nine-year preferential assessment period by up to 12 additional years for income-producing real property.
• Amends Georgia's landmark historic property tax law (O.C.G.A. § 48-5-7.3) with the same optional 12-year extension for income-producing landmark historic properties.
• Keeps the original nine-year preferential assessment period as the default for both programs unless a county approves the extension.
• Preserves the existing rule that a property can requalify for preferential assessment after subsequent rehabilitation.
• Repeals any existing laws that conflict with these changes.

Owners of income-producing historic properties that are rehabilitated or officially designated as landmark historic sites, along with county tax officials and county governing authorities, who would decide whether to approve the longer assessment period.

Owners of income-producing historic buildings could pay reduced property taxes for a much longer stretch of time, up to 21 years total instead of nine, if their county approves it. This could affect county property tax revenue and shape decisions about restoring older commercial buildings.

• Section 1 revises paragraph (4) of subsection (h) in O.C.G.A. § 48-5-7.2 so counties may approve up to 12 extra years of preferential assessment for income-producing rehabilitated historic property.
• Section 2 makes the identical change to subparagraph (e)(1)(E) of O.C.G.A. § 48-5-7.3 for landmark historic property.
• Section 3 repeals all laws or parts of laws that conflict with the bill's changes.
• The extension is discretionary, it only applies if 'approved by the governing authority of the county,' and only for 'income-producing real property.'

1. 2026-01-12Senate Recommitted (Senate)
2. 2025-02-04Senate Read Second Time (Senate)
3. 2025-02-03Senate Committee Favorably Reported (Senate)
4. 2025-01-27Senate Read and Referred (Senate)
5. 2025-01-17Senate Hopper (Senate)

• Max Burns (R, SD-023)Primary sponsor
• Chuck Hufstetler (R, SD-052)
• Mike Hodges (R, SD-003)
• John Kennedy (R, SD-018)
• Matt Brass (R, SD-006)
• Randy Robertson (R, SD-029)
• Ben Watson (R, SD-001)
• Billy Hickman (R, SD-004)
• Drew Echols (R, SD-049)
• Lee Anderson (R, SD-024)
• Sally Harrell (D, SD-040)
• Sonya Halpern (D, SD-039)
• John Albers (R, SD-056)
• Russ Goodman (R, SD-008)
• Ricky Williams (R, SD-025)
• Chuck Payne (R, SD-054)
• Marty Harbin (R, SD-016)
• Sam Watson (R, SD-011)
• Clint Dixon (R, SD-045)

• property taxes
• historic preservation
• county government
• tax incentives