Georgia 10 Year Land Covenant Agreement

In principle, you need to enter into an „alliance“ and place a „limitation“ on the field with the local evaluator. In fact, this „alliance and restriction“ states that you will not develop your country for a period of 10 years or submit it to commercial exploitation, and it will be registered and added to your act of guarantee with the court administrator. In return, you get a significant discount (up to 80%) taxes due on real estate. If you violate Confederation, you must reimburse the tax advisor twice the savings you received during the life of Confederation, to the point where he was injured. If there is a house in the countryside, then most tax inspectors will subtract 1.3 hectares of the total area of the land, as it is already developed, which means that you would need 11.3 hectares (/-) to qualify for conservation if there is a house on the land. A similar, more recent program is the Forest Land Conservation Use Covenant. It is a 15-year alliance with different minimum and maximum areas and is mainly intended for woodlands. For more information, see: dor.georgia.gov/forest-land-protection-act-valuation. All tax payers are encouraged to go to the tax inspector`s office when it comes to these exemptions.

Printed materials are available from the Ministry of Finance and the Cooperative Extension Office. Since all exemptions and covenants result in a change in the tax burden of this county, the Gordon County Assessors Office and the Assessors` Board of Directors strive to ensure that these exemptions and alliances are implemented in a fair, consistent, correct and O.C.G.A. 48-5 manner. epd.georgia.gov/sites/epd.georgia.gov/files/related_files/site_page/CUVA%20fact%20sheet.pdf customers who purchase land or homes on a large area in the northern mountains of Georgia may not be familiar with any national program called the Conservation Use Program, sometimes called the Conservation Use Value Assessment (CUVA). The Conservation Use program was launched in 1992 by the Georgia Legislature due to rapid land assessment in the 1980s and can save you up to 80% of taxes on your property, provided you have more than 10 hectares of land. For more information about the program, see the Georgia Department of Revenue: dor.georgia.gov/conservation-use-assessment-information, or please call us to discuss our experience with him. For specific questions, it is always a good idea to contact the tax office in the county where the property is located. You are the last authority on the issues that arise. This favourable tax treatment is intended to protect these homeowners from the pressures of the property tax to transform their farm lands into residential or commercial use, hence the term „conservation use estimate.“ dor.georgia.gov/conservation-use-assessment-information An example of tax economy: a 311-hectare Burke County wing, included in the pact, saved 59% on property taxes in 2015 (from $3355.63 to $1364.29).

This property is mainly planted with pine trees and young natural forests, with some open spaces, and is used for wood recovery and production.