SB 346 awaits governor's signature

The final version of SB 346 (which I’ve described and given updates on here, here, and here) passed the Georgia General Assembly today. The AJC’s Gold Dome Live blog gives this summary:

A long-promised property tax reform bill — promising annual assessments and longer appeal time — received final passage from the General Assembly Thursday.

“With the passage of SB 346, we will protect taxpayers from unfair assessments and guarantee the right to appeal,” Senate Majority Leader Chip Rogers (R-Woodstock said). “While this is a huge victory for Georgia property owners, it’s only part of the solution to providing a system that actually works With the passage of SB 346, we will protect taxpayers from unfair assessments and guarantee the right to appeal.”

The bill, considered the most sweeping overhaul of Georgia’s property tax system, would:

• Requirement that every property owner receive annual Notice of Assessment, which guarantees right to appeal
• Every Notice of Assessment must contain estimated property tax
• Expansion of appeal time-period from 30 to 45 days
• Alternative streamlined appeal option for property valued in excess of $1,000,000
• Automatic taxpayer victory on appeals when government fails to respond within 45 days
• Requirement that all relevant sales, including distress sales, be included when determining Fair Market Value
• Requirement that only “current use of property” be used in determining Fair Market Value
• Taxpayer must be given access to all data used in determining Fair Market Value
• Sales price establishes Fair Market Value for next tax year

Rep. Ed Lindsey (R-Atlanta), who squired the bill through the House, said before the House’s final vote Thursday that the bill should give “greater rights to our property owners when it comes to appeals."