HB942: HB942 Ad valorem tax; public property owned by a political subdivision outside of its territorial limits; limit an exemption

26 LC 44 3245 House Bill 942 By: Representatives Burnough of the 77th, Bell of the 75th, Flournoy of the 74th, and Scott of the 76th A BILL TO BE ENTITLED AN ACT To amend Code Section 48-5-41 of the Official Code of Georgia A nnotated, relating to1 property exempt from ad valorem taxation, so as to limit an exe mption from ad valorem2 taxation for public property owned by a political subdivision outside of its territorial limits3 that is developed by grading or other improvements to the extent of at least 25 percent of the4 total land area and has facilities actively used for a public o r governmental purpose; to5 provide for an effective date; to provide for related matters; to repeal conflicting laws; and6 for other purposes.7 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:8 SECTION 1.9 Code Section 48-5-41 of the Official Code of Georgia Annotated, relating to property exempt10 from ad valorem taxation, is amended by revising subparagraph (a)(1)(B) as follows:11 "(B) No public real or personal property which is owned by a political subdivision of12 this state and which is situated outside the territorial limits of the political subdivision13 shall be exempt from ad valorem taxation unless the property is:14 (i) Developed by grading or other improvements to the extent of at least 25 percent15 of the total land area and facilities are located on the property which are actively used16 H. B. 942 - 1 - 26 LC 44 3245 for a public or governmental purpose; provided, however, that o n and after17 January 1, 2027, such property shall only be entitled to an exe mption equal to 6018 percent of its fair market value;19 (ii) Three hundred acres or less in area;20 (iii) Located inside a county embracing all or part of a munic ipality owning such21 property; or22 (iv) That portion of any real property which has been designated as a watershed by23 the United States Soil and Water Conservation Service and used as a watershed by the24 political subdivision owning the property."25 SECTION 2.26 All laws and parts of laws in conflict with this Act are repealed.27 H. B. 942 - 2 -