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Senate committee advances bill allowing local option to extend historic commercial property assessment freeze
Summary
A Georgia Senate committee approved SB 24 (LC 442898) to let local governments extend an existing eight-year assessment freeze for qualifying commercial historic properties by up to 12 additional years at local option, a measure backers say could spur downtown redevelopment and housing.
Senator Burns introduced SB 24 (LC 442898), a bill that would let local governments extend the state’s current eight‑year assessment freeze for qualifying commercial historic properties for additional years by local action. The committee approved the bill unanimously and agreed to forward it for further consideration.
Supporters told the committee the change is voluntary for local governments and intended to make lengthy rehabilitation projects more financially feasible. Burns said the change would give local officials the option to extend the freeze so restoration projects “can be redeveloped…
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