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Here’s Stacey Abrams on AMENDMENT 3: Encourages the conservation, sustainability, and longevity of
Georgia’s working forests through tax subclassification and grants.
BALLOT QUESTION: Shall the Constitution of Georgia be amended so as to revise provisions related to the subclassification for tax purposes of and the prescribed
methodology for establishing the value of forest land conservation use property and related assistance grants, to provide that assistance grants related to forest land
conservation use property may be increased by general law for a five-year period and that up to 5 percent of assistance grants may be deducted and retained by the state revenue commissioner to provide for certain state administrative costs, and to provide for the subclassification of qualified timberland property for ad valorem taxation purposes?
Summary: This proposal revises provisions subclassifying forest land conservation use property for ad valorem taxation purposes. It revises the methodology for establishing the value of forest land conservation use property and related assistance grants. The proposal also permits the subclassification of qualified timberland property for ad valorem taxation purposes. It amends Article V1I, Section I, Paragraph III of the Georgia
Constitution by revising subparagraph (f) and by adding a new subparagraph (f.1). A copy of this entire proposed constitutional amendment is on file in the office of the judge of the probate court and is available for public inspection.
Pro: The amendment allows the General Assembly to change the formula used to calculate the tax on forest land conservation use property and create a new designation for commercial timberland.
Con: No significant opposition.
Stacey’s Position: I will vote YES on Amendment 3. The current formula for determining fair market value on such land needs updating, and owners of commercial
timberland will be helped by this uncontroversial proposal.https://ift.tt/2ySgBgP
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