House Resolution 1472
By: Representatives Lim of the 98th, Lupton of the 83rd, Wilkerson of the 38th, and Carpenter
of the 4th
A RESOLUTION
Proposing an amendment to the Constitution so as to provide for assessment and taxation of
affordable housing use property; to provide for definitions, methods of assessment and
taxation, and conditions; to provide for related matters; to provide for the 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 by adding a new
paragraph to read as follows:
<ins>"(i) The General Assembly shall provide by general law for definitions and methods of
assessment and taxation of 'affordable home use property' to be limited to property
intended to be used for private single-family residential occupancy not to exceed five acres
and to be sold to a single low-income family owner. Such methods of assessment and
taxation shall be subject to the following conditions:
(1) A property owner desiring the benefit of such methods of assessment and taxation
shall be required to enter into a covenant to control, either directly or indirectly, the
purchase price of residential housing for the primary purpose of providing that the
housing remains affordable to lower income households; and
</ins>
<ins>(2) 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."
</ins> 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 Shall the Constitution of Georgia be amended so as to provide for the
( ) NO assessment and taxation of affordable housing use property?"
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.