Georgia Charitable Institutions Tax Exemptions, Referendum C (2006)
Referendum C expanded the property tax exemption for property owned by charitable organizations so that the exemption covers buildings owned by 501(c)(3) non-profits. Referendum C's approval meant that the exemption applies to "real estate or buildings which are owned by a charitable institution ... and used by such charitable institution for the purpose of securing income so long as such income is used exclusively for the operation of that charitable institution."
Text of measure
Georgia law (Code Section 21-2-4 of the O.C.G.A.) requires that when an election will take place on proposed statutes, the Georgia Secretary of State must provide a neutral summary and explanation of each proposal.
The question and description are incorporated into a voter guide that voters may consult prior to casting their vote.
|"Shall the Act be approved which grants an exemption from ad valorem taxation on property owned by a charitable institution which generates income when that income is used exclusively for the operation of such charitable institution?"|
| This section of this Act expands the ad valorem tax exemption for property of charitable institutions so that the exemption will apply to real estate or buildings which are owned by a charitable institution that is exempt from taxation under Section 501(c)(3) of the federal Internal Revenue Code and used by such charitable institution for the purpose of securing income so long as such income is used exclusively for the operation of that charitable institution.
If approved by a majority of the voters, this section of the Act becomes effective on January 1, 2007, and applies to all tax years beginning on or after that date.
State of Georgia
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