06 LC 18
4879
House
Resolution 1049
By:
Representative Stephens of the
164th
A
RESOLUTION
Proposing
an amendment to the Constitution so as to authorize the conditions of ownership
regarding the preferential assessment for property which is devoted to bona fide
agricultural purposes to be established by general law; 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 striking
subparagraph (c) and inserting in its place a new subparagraph (c) to read as
follows:
"(c)
Tangible real property, but no more than 2,000 acres of any single property
owner, which is devoted to bona fide agricultural purposes shall be assessed for
ad valorem taxation purposes at 75 percent of the value which other tangible
real property is assessed. No property shall be entitled to receive the
preferential assessment provided for in this subparagraph if the property which
would otherwise receive such assessment would result in any person who has a
beneficial interest in such property, including any interest in the nature of
stock ownership, receiving the benefit of such preferential assessment as to
more than 2,000 acres. No property shall be entitled to receive the
preferential assessment provided for in this subparagraph unless
the
such
conditions
set out
below
of ownership
as established by general law are
met:.
(1)
The property must be owned by:
(A)(i)
One or more natural or naturalized citizens;
(ii)
An estate of which the devisee or heirs are one or more natural or naturalized
citizens; or
(iii)
A trust of which the beneficiaries are one or more natural or naturalized
citizens; or
(B)
A family-owned farm corporation, the controlling interest of which is owned by
individuals related to each other within the fourth degree of civil reckoning,
or which is owned by an estate of which the devisee or heirs are one or more
natural or naturalized citizens, or which is owned by a trust of which the
beneficiaries are one or more natural or naturalized citizens, and such
corporation derived 80 percent or more of its gross income from bona fide
agricultural pursuits within this state within the year immediately preceding
the year in which eligibility is
sought."
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
( ) NO
|
Shall
the Constitution of Georgia be amended so as to authorize the conditions of
ownership regarding the preferential assessment for property which is devoted to
bona fide agricultural purposes to be established by general law?"
|
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.