Compilation of Rules and Regulations of the State of Georgia
Department 560 - RULES OF DEPARTMENT OF REVENUE
Chapter 560-11 - LOCAL GOVERNMENT SERVICES DIVISION
Subject 560-11-3 - FORMS
Rule 560-11-3-.19 - Farm Property Preferential Assessment/Application/ Covenant Form

Universal Citation: GA Rules and Regs r 560-11-3-.19

Current through Rules and Regulations filed through September 23, 2024

(1) In order for tangible real property to qualify for the preferential assessment provided for in O.C.G.A. Sections 48-5-7 and 48-5-7.1, its primary use must be the good faith commercial production of agricultural products. Such land must be devoted to bona fide agricultural purposes, which as a general rule, contemplates both the usage of multiple acre tracts and an overall pursuit of profit. The mere ownership of multiple acres whose primary use is not the good faith commercial production of agricultural products but is only used in the limited, occasional or sporadic production of agricultural products would not qualify for the preferential assessment.

(2) For purposes of this regulation, the following terms are defined to mean:

(a) "Bona fide agricultural purposes" means the production, as a part of an overall business pursuit engaged in for profit of one or more types of agricultural products including horticultural products, floricultural products, forestry products, dairy products, livestock products, poultry products, apiarian products, and any other form of farm product.

(b) "Good faith commercial production" means an overall business pursuit factually and genuinely engaged in for the primary purpose of producing agricultural products for a profit.

(c) "Primary use" means that use which is the principal, chief and leading use or activity to which the property is devoted.

(d) "Storage or processing of agricultural products" means to put or set aside agricultural products for safekeeping or for use when needed or the act or series of acts performed upon agricultural products to transform such products into a different state of condition.

(3) O.C.G.A. Section 48-5-7.1 requires the State Revenue Commissioner to annually submit a report to the Governor and General Assembly which, among other things, shows the fiscal impact of preferential assessment and the assessed value eliminated from each county's digest as a result of such assessment. To aid in the collection of such date for statistical accounting purposes, tangible real property which receives the preferential assessment shall utilize an identification code of A-3 and improvements which are devoted to the storage or processing of agricultural products from or on such property shall utilize an identification code of A-1.

(4) All applications for the preferential assessment of tangible real property devoted to bona fide agricultural purposes as set forth in O.C.G.A. Section 48-5-7.1 and O.C.G.A. Section 48-5-7.1 as well as the covenant described therein shall be made upon the form adopted by the State Revenue Commissioner for that purpose. Form PT-230 set forth below has been adopted by the Commissioner for said purpose.

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O.C.G.A. Secs. 48-5-7, 48-5-7.1.

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