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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionFulton County
Jurisdiction type: County
Fiscal year ending In2020
Program nameState of Georgia Preferential Property Tax Assessment Program for Rehabilitated Historic Property
Program purpose: Historic Preservation
Statutory authority: State of Georgia statutes O.C.G.A. 48-5-7(c) and O.C.G.A 48-8-7.2
Abating jurisdiction(s): Fulton County, Georgia
Applicable taxesProperty Tax
Method of abatement: Reduction in assessed value
Provisions for recapture: A property owner who fails to have property classified as rehabilitated historic property and listed on the Georgia Register of Historic Places for the preferential assessment shall be required to pay the difference between the amount of taxes on the property during the period that the assessment was frozen and the amount of taxes which would have been due had the property been assessed at the regular fair market value, plus interest on the past due taxes.
Gross revenue loss: $487,000
Reimbursement / offset: $0
Net revenue loss: $487,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.fultoncountyga.gov/inside-fulton-county/fulton-county-depart...