10 LC
18 8567
House
Bill 1148
By:
Representatives Knight of the
126th
and Yates of the
73rd
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-5B-1 of the Official Code of Georgia Annotated, relating
to the moratorium on increases in assessed value of property, so as to provide
for additional, limited nonapplicability in the case of certain comprehensive,
county-wide revaluation; to provide an effective date; to repeal conflicting
laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-5B-1 of the Official Code of Georgia Annotated, relating to the
moratorium on increases in assessed value of property, is amended by revising
subsection (c) to read as follows:
"(c)(1)
The limitations of this Code section shall not apply to the correction by local
tax officials, pursuant to Chapter 5 of this title, of any manifest, factual
error or omission in the valuation of property.
(2)
Except as provided in paragraph (3) of this subsection,
the
The
limitations of this Code section shall take effect on January 1, 2010, for any
county which performed or had performed on its behalf a comprehensive
county-wide revaluation of all properties in the county in 2008 or any county
which in 2009 was under contract prior to February 28, 2009, to have performed
on its behalf a comprehensive county-wide revaluation of all properties in the
county.
(3)
The limitations of this Code section shall not apply, for the 2010 tax year
only, to any county which was under contract signed prior to February 28, 2009,
to have performed on its behalf a comprehensive county-wide revaluation of all
properties in the county to be completed in
2010."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.