HR250: HR250 Local government; adopt an alternative method of appraisal and assessment of real property located within the county for taxation; provide - CA

25 LC 28 0648 House Resolution 250 By: Representatives Washburn of the 144th, Powell of the 33rd, Ridley of the 6th, Ridley of the 22nd, Stephens of the 164th, and others A RESOLUTION Proposing an amendment to the Constitution so as to provide that the governing authority of1 any county or consolidated government shall be authorized to adopt an alternative method2 of appraisal and assessment of real property located within suc h county for taxation; to3 provide for conditions and limitations; to provide for legislat ive findings; to provide for4 related matters; to provide for the submission of this amendment for ratification or rejection;5 and for other purposes.6 BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA:7 SECTION 1.8 (a) The General Assembly finds and determines that it is appro priate and advisable to9 provide for a local option for an alternative method of establishing the value of property for10 the assessment of taxes.11 (b) The General Assembly further finds and declares that by allowing for a local option of12 using the most recent sales price for property as the method fo r determining the value of13 property would lead to the following beneficial effects:14 (1) Provide greater transparency for taxpayers;15 (2) Eliminate ambiguity in the annual appraisal and assessment process;16 H. R. 250 - 1 - 25 LC 28 0648 (3) Eliminate the need for taxpayer appeals, except in instances of a recent transaction17 or improvement concerning the real property;18 (4) Greatly lower the administrative costs related to assessing real property for taxation;19 (5) Reduce the number of appeals to the superior court, thus reducing costs;20 (6) Reduce administrative costs related to preparing and mailing annual appraisals and21 assessments;22 (7) Make digest data available to taxing authorities much earlier in the year, which would23 allow for more precise forecasting and budgeting;24 (8) Create a more predictable and consistent digest;25 (9) Require less time and resources for state approval of the digest;26 (10) Help eliminate the annual discussions on capping value increases on real property;27 (11) Eliminate the need for exemptions that attempt to cap or freeze property value28 increases, which are administratively cumbersome and confusing to taxpayers;29 (12) Reduce the potential for interference and pressure applied to the valuation process;30 and31 (13) Help address unhealthy types of gentrification which may force people from their32 homes.33 SECTION 2.34 Article VII, Section I of the Constitution is amended in Paragr aph III by adding a new35 subparagraph to read as follows:36 "(i)(1)(A) The governing authority of any county or consolidated government shall37 be authorized to adopt an alternative method of appraising and assessing real property38 for ad valorem taxes levied for all purposes within the county in accordance with the39 provisions of this subparagraph (i).40 (B) A governing authority may initiate or revoke the use of such alternative method41 prescribed by this subparagraph (i) upon passage of an ordinanc e or resolution by a42 H. R. 250 - 2 - 25 LC 28 0648 majority of such governing authority. A governing authority ma y provide that the43 effectiveness of such ordinance or resolution shall be continge nt upon approval of a44 majority of voters in a referendum thereon. However, a revocat ion by a governing45 authority shall not occur within five years from the date the alternative method initially46 becomes effective.47 (2) The alternative method of appraising and assessing real pr operty for ad valorem48 taxation shall use the appraised fair market value as of January 1 of the year following49 the adoption of such alternative method as shown on the tax digest of the county on such50 date for such real property. Thereafter, the appraised fair ma rket value of the property51 shall be the most recent purchase price for such property unles s there is a substantial52 improvement made to the property. A substantial improvement shall be the construction53 of, an addition to, or replacement of structures on such real e state that increase the fair54 market value of the real estate by an amount in excess of $50,000.00. Upon such event,55 the property may be reappraised and reassessed and the fair market value reestablished56 for ad valorem tax purposes. The appraised value of such real property shall change only57 upon a subsequent transfer of such property or a substantial improvement to the property.58 (3) The alternative method of appraising and assessing real pr operty for ad valorem59 taxation shall be uniform for all real property within the county. Real property appraised60 pursuant to this alternative method shall be assessed for taxat ion at the same rate and61 percentage of value as all other tangible property in the county.62 (4) The implementation and administration of this subparagraph (i) shall be further63 provided by general law in a manner consistent with this subparagraph (i)."64 SECTION 3.65 The above proposed amendment to the Constitution shall be publi shed and submitted as66 provided in Article X, Section I, Paragraph II of the Constitution. The ballot submitting the67 above proposed amendment shall have written or printed thereon the following:68 H. R. 250 - 3 - 25 LC 28 0648 "( ) YES69 ( ) NO70 71 72 73 Shall the Constitution of Georgia be amended so as to provide t hat the governing authority of any county or consolidated government sh all be authorized to adopt an alternative method of appraisal and assessment of all real property for the ad valorem taxes levied on such property within such taxing jurisdiction?" All persons desiring to vote in favor of ratifying the proposed amendment shall vote "Yes." 74 All persons desiring to vote against ratifying the proposed amendment shall vote "No." If75 such amendment shall be ratified as provided in said Paragraph of the Constitution, it shall76 become a part of the Constitution of this state.77 H. R. 250 - 4 -