Ad valorem tax; preferential assessment of affordable home use property; provide

Summary

The bill adds a new provision to Georgia’s property tax code that gives a current‑use tax assessment to qualifying affordable home use property for ten years. To qualify, the land must be a single‑family residence on five acres or less, sold to a low‑income family, and the owner must sign a covenant promising to keep it in that use. The goal is to lower property taxes for low‑income homeowners while preserving the land for residential use.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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