HB282: HB282 Ad valorem tax; property; change certain definitions

Georgia gives a special, lower property tax value to land enrolled in 'bona fide conservation use' covenants, such as farmland and forest land, based on a legal concept called 'current use value' rather than fair market value. This bill amends Georgia's property tax code (O.C.G.A. § 48-5-2) to revise how 'current use value' is defined for that property. Under the bill's new wording, current use value means the amount a knowledgeable buyer would pay for the property intending to keep it in its existing use, in an arm's length sale, with the actual number still determined using the criteria in O.C.G.A. § 48-5-269(b). The bill does not change tax rates or the conservation use program itself; it only updates the definition tax assessors apply. It would take effect immediately if signed by the Governor or allowed to become law without a signature.

• Rewrites paragraph (1) of O.C.G.A. § 48-5-2 to redefine 'current use value' for bona fide conservation use property.
• Ties the new definition to what a knowledgeable buyer would pay in an arm's length sale intending to keep the property in its current use.
• Keeps the existing rule that the actual value is calculated using the criteria in O.C.G.A. § 48-5-269(b), without changing that calculation method.
• Sets the effective date as the day the Governor signs the bill or it otherwise becomes law without a signature.
• Repeals any existing Georgia laws that conflict with the new definition.

County tax assessors who calculate property values, and owners of land under conservation use covenants such as farmers, timberland owners, and other landowners who benefit from the reduced 'current use value' tax assessment instead of full market value.

Because conservation use property is taxed on 'current use value' rather than market value, how that term is defined affects the tax bills of farmland and forestland owners statewide. A revised definition could change how assessors calculate values, though the bill keeps the underlying valuation criteria in place.

• Section 1 amends O.C.G.A. § 48-5-2(1) to redefine 'current use value' as what a knowledgeable buyer would pay to continue the property's existing use in an arm's length sale.
• Section 1 preserves the requirement that valuation follow the specifications and criteria in O.C.G.A. § 48-5-269(b).
• Section 2 makes the Act effective immediately upon the Governor's approval or upon becoming law without approval.
• Section 3 repeals any conflicting Georgia laws.

1. 2025-02-10House Second Readers (House)
2. 2025-02-06House First Readers (House)
3. 2025-02-05House Hopper (House)

• Vance Smith (R, HD-138)Primary sponsor
• Bruce Williamson (R, HD-112)
• Shaw Blackmon (R, HD-146)
• Trey Kelley (R, HD-016)
• Clint Crowe (R, HD-118)

• property taxes
• ad valorem tax
• conservation use land
• farmland taxation
• tax assessments