Georgia House of Representatives - 1995/1996 Sessions

HB 329 - Ad valorem tax increase; limitation; Consumer Price Index

Page Numbers - 1/ 2

Code Sections - 48-5-33/ 48-5-33

1. Royal  164th           2. Jamieson  22nd          3. Smith  12th


House Comm: W&M        /                Senate Comm:            /                                   
House Vote: Yeas       Nays             Senate Vote: Yeas     Nays                                  
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               House          Action         Senate                                                 
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              1/23/95  Read 1st Time                                                                
              1/24/95  Read 2nd Time                                                                
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Code Sections amended: 48-5-33                                                                      


HB 329                                            LC 18 6387






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Article 1 of Chapter 5 of Title 48 of the Official
  1- 2  Code of Georgia Annotated, relating to general provisions
  1- 3  regarding ad valorem taxation of property, so as to provide
  1- 4  for limitations upon the rate of increase of the ad valorem
  1- 5  tax millage rate and assessed value of property for certain
  1- 6  purposes; to provide for exceptions; to provide an effective
  1- 7  date; to provide for applicability; to repeal conflicting
  1- 8  laws; and for other purposes.

  1- 9       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1-10  Article 1 of Chapter 5 of Title 48 of the Official Code of
  1-11  Georgia Annotated, relating to general provisions regarding
  1-12  ad valorem taxation of property, is amended by striking Code
  1-13  Section 48-5-33 which reads as follows:

  1-14    "48-5-33. (Index)

  1-15    Reserved.",

  1-16  and inserting in its place a new Code Section 48-5-33 to
  1-17  read as follows:

  1-18    "48-5-33. (Index)

  1-19    (a) The ad valorem tax millage rate for county purposes
  1-20    and the ad valorem tax millage for municipal purposes
  1-21    shall not be increased from one taxable year to the
  1-22    succeeding taxable year by a percentage greater than any
  1-23    change in the Consumer Price Index of the Bureau of Labor
  1-24    Statistics of the United States Department of Labor for
  1-25    all urban consumers on the 1982-84 equals 100 reference
  1-26    base.

  1-27    (b) The assessed value of real property for county ad
  1-28    valorem tax purposes and the assessed value of real
  1-29    property for municipal ad valorem tax purposes, excluding
  1-30    any additions or improvements thereto, shall not be
  1-31    increased from one taxable year to the succeeding taxable



                                 -1- (Index)

                                                  LC 18 6387

  2- 1    year by a percentage greater than any change in the
  2- 2    Consumer Price Index of the Bureau of Labor Statistics of
  2- 3    the United States Department of Labor for all urban
  2- 4    consumers on the 1982-84 equals 100 reference base.

  2- 5    (c) The limitations provided in subsections (a) and (b) of
  2- 6    this Code section shall not apply to increases necessary
  2- 7    to fund federal or state mandates on such county or
  2- 8    municipality for which no or insufficient federal or state
  2- 9    appropriations have been made or to fund expenditures
  2-10    necessitated by natural disasters."

                         SECTION 2.

  2-11  This Act shall become effective on January 1, 1996, and
  2-12  shall be applicable to all taxable years beginning on or
  2-13  after that date.

                         SECTION 3.

  2-14  All laws and parts of laws in conflict with this Act are
  2-15  repealed.





























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