Page 27 - Georgia Forestry - Summer 2018
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the use of 2008 as the base year for fair market value of forestland. This provision essentially would have worked well if all 159 counties had revalued land in 2007 or 2008. But that did not happen and the formula ended up locking in assistance grants for nearly all of Georgia’s counties at rates that were either below or above what they should have been. There were even some counties that were overpaid more than $1 million a year — money that should have gone to other counties.
Voters to Approve Legislation in November
To address the issues with uniformity for land not enrolled in a conservation program, as well as land enrolled in CUVA and FLPA, the Georgia Forestry Associ- ation championed the passage of HR 51 and HB 85, which were approved by both chambers of the Georgia General Assem- bly and signed by the Governor in early May. Because the legislation is a consti- tutional amendment, voters will have the opportunity to vote on the legislation on the general election ballot in November.
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Main provisions of
the legislation include:
1Established a new class of land titled “Qualified Timberland Property”
Provides landowners with the opportunity for their land to be assessed at fair market value as determined by the Department of Revenue (rather than county tax assessors). To qualify, the land must be a minimum of 50 acres and must be managed for producing commercial timber. Qualified landowners will not be required
to sign a covenant, but they are required to file an annual return to maintain their status.
2Reduced the FLPA covenant length and property size requirement
Currently, land enrolled in FLPA must be 200 continuous acres
and landowners must sign a 15-year covenant. Under the new legislation, an aggregate of 200 acres across the state may qualify (if parcels exceed 100 acres in any given county) and the covenant length is reduced to 10 years.
3Adjusted the FLPA formula used in calculating local assistance
grants to counties
The current formula establishes fair market value (FMV) on 2008 base- year, which has resulted in over- and underpayments to counties. The new legislation will update the FMV base to the current year. To reduce the impact on counties that lose funding, a five-year phase-in
will be put in place to help smooth the transition.
