Public Hearing Set on Georgia Conservation Tax Credit Program Rules

The Georgia Department of Natural Resources has scheduled a public hearing to solicit comment on proposed amendments to rules for the Georgia Conservation Tax Credit Program.

The hearing is set for 5:30-6:30 p.m. March 19 in the conference room at the Wildlife Resources Division’s Wildlife Resources Conservation Center, 2065 U.S. Highway 278 S.E., Social Circle, Ga. 30025. The Conservation Center is about four miles west of Rutledge and 1.5 miles northeast of the intersection of Interstate 20 and U.S. 278 (Exit 101).

The DNR is revising Rules 391-1-6-.01 through 391-1-6-.05 to address and incorporate changes made to the Conservation Tax Credit Program with the passage of House Bill 1274, which amended the conservation tax credit provided for in Code Section 48-7-29.12. The following changes were made by House Bill 1274 and are included in the rule revisions:

· Define fair market value by an appraisal that meets IRS requirements.

· Allow donations to the federal government to qualify.

· Allow bargain sales to qualify.

· Extend the carryover period from five to 10 years.

· Specify that partnerships are subject to a $1 million aggregate cap.

· Eligible conservation purposes will be defined by the department.

At the public hearing, anyone may present data, make a statement, comment or offer a viewpoint or argument either orally or in writing. Oral statements should be concise.

Written comments are also welcomed. To insure their inclusion in the department’s package for the Board of Natural Resources, written comments should be received by 5 p.m. April 10. Comments may be e-mailed to Kristina.Sorensen@dnr.state.ga.us or sent via regular mail addressed to: Kristina Sorensen, Conservation Tax Credit Program, 2065 U.S. Highway 278 S.E., Social Circle, Georgia 30025-4743.

Copies of the proposed Conservation Tax Credit Program rules are posted at http://glcp.ga.gov/ (select the “Georgia Tax Credits” tab) and www.georgiawildlife.com (click the “Conservation” tab). Written copies are available from Kristina Sorensen, Kristina.Sorensen@dnr.state.ga.us or by calling (770) 918-6411.

The proposed rules will be considered by the Board of Natural Resources at its meeting on April 29 in the DNR Board Room at 2 Martin Luther King Jr. Drive S.E., Suite 1252, East Tower, Atlanta, Ga. 30334. The meeting is open to the public.

The Georgia Conservation Tax Credit Program rules are proposed for adoption pursuant to authority contained in the Georgia Conservation Tax Credit Act (O.C.G.A. 48-7-29.12).

-----
www.georgiafrontpage.com
Georgia Front Page
www.fayettefrontpage.com
Fayette Front Page

Announcing a Proposed Property Tax Increase for Atlanta Residents

The Council Members of the City of Atlanta have tentatively adopted a millage rate which will require an increase in property taxes by 19.97 percent over the rollback millage rate.

Each year, the board of tax assessors is required to review the
assessed value for property tax purposes of taxable property
in the county. When the trend of prices on properties that
have recently sold in the county indicate there has been an
increase in the fair market value of any specific property, the
board of tax assessors is required by law to re-determine the
value of such property and adjust the assessment. This is
called reassessment.

When the total digest of taxable property is prepared, Georgia law requires that a rollback millage rate must be computed that will produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred.

The budget tentatively adopted by the Council Members of the City of Atlanta requires that a millage rate higher than the rollback millage rate, therefore, before the Council Members of the City of Atlanta may finalize the tentative budget and set a final millage rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase.

All concerned citizens are invited to the public hearings on this tax increase to be held in the City Council Chambers, 55 Trinity Avenue S.W., Atlanta, GA 30303 on June 16, 2008 at 6:00pm and on June 23, 2008 at 12:00pm and 6:00pm.