Georgia Timber Tax Reduction Amendment (2024)
| Georgia Timber Tax Reduction Amendment | |
|---|---|
 | |
| Election date November 5, 2024 | |
| Topic Taxes | |
| Status Not on the ballot | |
| Type Constitutional amendment | Origin State legislature |
The Georgia TimberTax Rate Reduction Amendment was not on the ballot in Georgia as a legislatively referred constitutional amendment on November 5, 2024.[1]
This amendment would have reduced the assessment rate on timber for the purpose of property taxes from 2.5 times the rate used for taxes on other property to a rate equal to the rate used for other property. The existing provision stating that timber is taxed only once upon harvest or sale would have remained. The amendment would have also required the state to allocate funds to each county, municipality, and school district to replace revenue lost due to the assessment rate reduction for timber. Under the amendment, each local government would have received the following funds:[1]
- an amount equal to 50% of lost revenue for lost revenue equal to up to 3% of the local government's timber property tax revenue, and
- an amount equal to 100% of lost revenue for lost revenue above 3% of the local government's timber property tax revenue.
Text of the measure
Full text
The full text of the amendment is available here.
Path to the ballot
- See also: Amending the Georgia Constitution
To put a legislatively referred constitutional amendment before voters, a two-thirds (66.67%) vote vote is required in both the Georgia State Senate and the Georgia House of Representatives.
On March 2, 2022, the state House approved House Resolution 96 proposing this amendment by a vote of 170-1, with seven members excused or not voting and two vacancies.[1]
The measure was not passed before the legislature adjourned its 2024 session.
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See also
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Footnotes
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