HB 526 Georgia House · 2025-2026 Regular Session

Ad valorem tax; extension of preferential assessment period for certain historic properties; provide

Summary

A BILL to be entitled an Act to amend Article 1 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to general provisions relative to ad valorem taxation of property, so as to provide for an extension of preferential assessment periods for certain historic properties; to provide for related matters; to repeal conflicting laws; and for other purposes.

Issues: ✓ Budget & Taxes

Bill status died 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 19, 2025 Last action Apr 4, 2025

Maddy AI version diff · 1 comparison

What changed between versions

LC 47 3425/a → LC 50 1200S/hs · 2 edits

MINOR

This substitute bill modifies the historic property tax incentive program by adding a requirement that fair market value calculations for landmark historic properties must continue using a specific valuation method during extended assessment periods. The change ensures consistency in how property values are determined when properties qualify for extended tax benefits beyond the initial nine-year period.

Scope change

The bill's scope remains focused on historic property tax incentives, but it adds a specific valuation requirement that applies to properties receiving extended assessment periods.

REQUIREMENT

Added a requirement that fair market value for landmark historic properties must continue to be calculated using division (3)(D)(ii) of Code Section 48-5-2 during extended assessment periods.

TECHNICAL

Changed the reference from Code Section 48-5-2 division (3)(C)(ii) to division (3)(D)(ii) for fair market value calculations.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 4, 2025

Committee

House Withdrawn, Recommitted

lower

Mar 3, 2025

Lower · Passed

House Committee Favorably Reported By Substitute

lower

Feb 19, 2025

Introduced

House Hopper

lower

5 primary · 0 co-sponsors