Governor Perdue on April 14 signed Senate Bill 55 into law and in so doing, approved the extension of the deadline for filing applications for Georgia's new conservation use tax program to June 1. The new deadline only applies to this tax year and only to enrollment in the Forest Land Protection Act which went into effect January 1 of this year. The passage of Amendment 1 in November set the stage for the new property tax program designed to encourage landowners to keep large contiguous tracts in forest use.
"The customary April 1 deadline date was unrealistic for our landowners," said Josh Stancil, forest policy spokesman for the Georgia Forestry Association. "The Department of Revenue has not yet promulgated the rules which will guide the administration and enforcement of the program."
Revenue's rulemaking has been delayed well beyond the January 1 effective date which has left landowners in limbo.
"How can you enroll in a program when you don't know what you're signing up for?" Stancil asked. "We are very grateful to the Governor for recognizing the need and expediting the signing of this important forestry legislation."
The legislation also requires tax assessors to take into consideration when establishing fair market value any loss in value to a forest tract that results from its being encumbered by a conservation easement.
Adobe Acrobat
Reader is required to view .pdf files. Obtain a free copy by
clicking here