HB498: Ad valorem tax; property; expand an exemption for agricultural equipment and certain farm products

Legislative Summary

A BILL to be entitled an Act to amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to property tax exemptions, so as to expand an exemption for agricultural equipment and certain farm products held by certain entities to include entities comprising two or more family owned farm entities; to add dairy products and unfertilized eggs of poultry as qualified farm products with respect to such exemption; to provide for a referendum; to provide for effective dates, applicability, and automatic repeal; to provide for compliance with constitutional requirements; to provide for related matters; to repeal conflicting laws; and for other purposes.