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HB 33 - Ad valorem tax; certain property; recording fees

Royal, A. Richard (164th)	Buck, III, Thomas B (135th)

Status Summary	HC:	W&M	SC:	F&PU	FR:	01/12/99	LA:	04/28/99	Signed by Governor

First Reader Summary

A BILL to amend Article 1 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to general provisions regarding ad valorem taxation of property, so as to eliminate certain recording fees with respect to preferential or current use assessment of tangible real property devoted to agricultural use, bona fide conservation use property, and bona fide residential transitional property; and for other purposes.

HB 33                                              LC 18 9149 
 
 
 
 
 
 
                        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 
  1- 4  eliminate certain recording fees with respect to 
  1- 5  preferential or current use assessment of tangible real 
  1- 6  property devoted to agricultural use, bona fide conservation 
  1- 7  use property, and bona fide residential transitional 
  1- 8  property; to provide an effective date; to repeal 
  1- 9  conflicting laws; and for other purposes. 
 
  1-10       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-11                           SECTION 1. 
 
  1-12  Article 1 of Chapter 5 of Title 48 of the Official Code of 
  1-13  Georgia Annotated, relating to general provisions regarding 
  1-14  ad valorem taxation of property, is amended by striking 
  1-15  subsection (t) of Code Section 48-5-7.1, relating to 
  1-16  preferential assessment of tangible real property devoted to 
  1-17  agricultural purposes, and inserting in its place a new 
  1-18  subsection (t) to read as follows: 
 
  1-19    "(t) At such time as the property ceases to be eligible 
  1-20    for preferential assessment or when any ten-year covenant 
  1-21    period expires and the property does not qualify for 
  1-22    further preferential assessment, the owner of the property 
  1-23    shall file an application for release of preferential 
  1-24    treatment with the county board of tax assessors who shall 
  1-25    approve the release upon verification that all taxes and 
  1-26    penalties with respect to the property have been 
  1-27    satisfied.  After the application for release has been 
  1-28    approved by the board of tax assessors, the board shall 
  1-29    file the release in the office of the clerk of the 
  1-30    superior court in the county in which the original 
  1-31    covenant was filed.  The clerk of the superior court shall 
  1-32    file and index such release in the real property records 
  1-33    maintained in the clerk's office.  The No fee of shall be 
  1-34    paid to the clerk of the superior court for recording such 
  1-35    release shall be paid by the owner of the property with 
 
 
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  2- 1    the application for release from preferential treatment, 
  2- 2    and such fee shall be paid to the clerk by the board of 
  2- 3    tax assessors when the release is filed with the clerk. 
  2- 4    The commissioner shall by regulation provide uniform 
  2- 5    release forms." 
 
  2- 6                           SECTION 2. 
 
  2- 7  Said article is further amended by striking subsection (w) 
  2- 8  of Code Section 48-5-7.4, relating to bona fide conservation 
  2- 9  use property and bona fide residential transitional 
  2-10  property, and inserting in its place a new subsection (w) to 
  2-11  read as follows: 
 
  2-12    "(w) At such time as the property ceases to be eligible 
  2-13    for current use assessment or when any ten-year covenant 
  2-14    period expires and the property does not qualify for 
  2-15    further current use assessment, the owner of the property 
  2-16    shall file an application for release of current use 
  2-17    treatment with the county board of tax assessors who shall 
  2-18    approve the release upon verification that all taxes and 
  2-19    penalties with respect to the property have been 
  2-20    satisfied.  After the application for release has been 
  2-21    approved by the board of tax assessors, the board shall 
  2-22    file the release in the office of the clerk of the 
  2-23    superior court in the county in which the original 
  2-24    covenant was filed.  The clerk of the superior court shall 
  2-25    file and index such release in the real property records 
  2-26    maintained in the clerk's office.  The No fee of shall be 
  2-27    paid to the clerk of the superior court for recording such 
  2-28    release shall be paid by the owner of the property with 
  2-29    the application for release from current use treatment, 
  2-30    and such fee shall be paid to the clerk by the board of 
  2-31    tax assessors when the release is filed with the clerk. 
  2-32    The commissioner shall by regulation provide uniform 
  2-33    release forms." 
 
  2-34                           SECTION 3. 
 
  2-35  This Act shall become effective upon its approval by the 
  2-36  Governor or upon its becoming law without such approval. 
 
  2-37                           SECTION 4. 
 
  2-38  All laws and parts of laws in conflict with this Act are 
  2-39  repealed. 
 
 
 
 
 
 
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