SB 24: Ad Valorem Taxation of Property; extension of preferential assessment periods for certain historic properties; provide

Georgia law currently gives owners of rehabilitated historic properties and landmark historic properties a preferential property tax assessment (a lower taxable value) for nine years, under O.C.G.A. §§ 48-5-7.2 and 48-5-7.3. After nine years, the special assessment normally ends unless the owner does new rehabilitation work to qualify again. This bill adds a new option: if a county's governing authority approves, the preferential assessment for a property can continue for up to 12 additional years, but only for income-producing real property, meaning buildings generating rental or business income rather than owner-occupied homes. The same extension option is added to both the rehabilitated historic property program and the landmark historic property program. The bill does not automatically extend anyone's assessment; a county must affirmatively approve the extension for a specific property.

• Adds language to O.C.G.A. § 48-5-7.2 letting a county governing authority approve up to 12 more years of preferential assessment for income-producing rehabilitated historic property after the current nine-year period ends.
• Adds the same 12-year extension option to O.C.G.A. § 48-5-7.3 for income-producing landmark historic property.
• Limits the extension to income-producing real property, so owner-occupied historic homes would not qualify for the added years.
• Keeps the existing nine-year preferential assessment period and the existing rule allowing requalification after new rehabilitation unchanged.

Owners of income-producing historic buildings, such as commercial or rental properties classified as rehabilitated or landmark historic property, and county governing authorities, which would gain discretion to approve the longer tax assessment period.

Owners of income-producing historic buildings could keep a lower property tax assessment for up to 21 years instead of 9, if their county approves, potentially affecting local property tax revenue and the financial case for restoring historic buildings for business use.

• Section 1 revises paragraph (4) of subsection (h) in O.C.G.A. § 48-5-7.2 to allow county-approved extensions of up to 12 years 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 conflicting laws, a standard closing provision with no independent substantive effect.

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-23)Primary sponsor
• Chuck Hufstetler (R, SD-52)
• Mike Hodges (R, SD-3)
• John F. Kennedy (R, SD-18)
• Matt Brass (R, SD-6)
• Randy Robertson (R, SD-29)
• Ben Watson (R, SD-1)
• Billy Hickman (R, SD-4)
• Drew Echols (R, SD-49)
• Lee Anderson (R, SD-24)
• Sally Harrell (D, SD-40)
• Sonya Halpern (D, SD-39)
• John Albers (R, SD-56)
• Russ Goodman (R, SD-8)
• Rick Williams (R, SD-25)
• Chuck Payne (R, SD-54)
• Marty Harbin (R, SD-16)
• Sam Watson (R, SD-11)
• Clint Dixon (R, SD-45)

• property taxes
• historic preservation
• county government
• ad valorem taxation