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Published on 10/18/01

Earliest CUV Tax Covenants Expire Dec. 31

Georgia's conservation-use valuation program saves qualified farmland owners more than $50 million each year on their property tax bills. The first of their 10-year contracts expire this year. But qualified taxpayers can renew their contracts after Jan. 1.

More than 16,000 '92-style conservation use covenants will expire Dec. 31. These covenants provide an average yearly savings of more than $550.

Many qualified farm and forest landowners can earn tax savings through 10-year CUV. Holders of '92-style covenants should consider, among other things:

  • The valuation methods for the '93-style CU covenants are different. Some landowners in a few counties will see a substantial increase over their old '92-style covenants.
  • With a decade of experience behind county tax assessors and the Georgia Department of Revenue Property Tax Division, some landowners may find it harder to qualify for renewal under the '93-style CU covenants.
Qualifying May Be Harder

Many county tax assessors feel many land parcels should not have been entered into early covenants. The main issue seems to be what constitutes a "bona fide agricultural or forest" operation on the land.

In other words, many assessors feel this is the first chance they will have to correct mistakes made in the first year this tax relief program went into effect.

In discussing why your property qualifies, it's important to summarize the statute and regulations, as it applies specifically to your property under the Official Code of Georgia Annotated Section 48-5-7.4.

Qualifying elements of farm or forest property depend on the good faith production of the land. That includes subsistence farming and commercial production of farm products or timber.

Application Deadline

Applications for CU assessment must be filed with the county board of tax assessors on or before the last day for filing ad valorem tax returns in the county. In most counties, that's March 1.

If the property is the subject of a reassessment, an application for CU assessment may be filed in conjunction with or in lieu of an appeal of the reassessment.

No more than 2,000 acres will be accepted, even in more than one covenant in more than one county. If it's accepted, the property must remain devoted to its qualifying farm or forest use.

The owner must be a citizen, a beneficiary of a citizen's estate or trust; a nonprofit conservation organization designated under Section 501 (c) (3) of the Internal Revenue Code; or a club organized for pleasure, recreation and other nonprofit purposes.

Owners of fewer than 10 acres will be expected to show some type of evidence that they're farming or growing trees.

Factors in Qualifying

Factors that may be considered in determining if the property is qualified may include the:

  • Nature of the terrain.
  • Density of the marketable product on the land.
  • Past usage of the land.
  • Merchantability of the farm or timber product.
  • Use or nonuse of recognized cultivation, harvesting and like practices applicable to the product.
To qualify for the CUV program, the property must be used for some agricultural purpose, such as:

  • Growing, harvesting or storing crops.
  • Feeding, breeding or managing livestock or poultry.
  • Growing plants, trees, fowl or animals.
  • Producing aquaculture, horticulture, floriculture, forestry, dairy, livestock, poultry or apiarian products.
Get Started Now

If you have an expiring '92-style covenant or would like to enter the CUV program for the first time, get started now. Contact your county tax assessor. Ask for help and details.

Your county extension agent is a good source of information, too. You can find further property tax information on-line through the web pages of the University of Georgia Daniel B. Warnell School of Forest Resources. Look in the information library section under economics and taxes.

Coleman Dangerfield is an extension forestry economist with the University of Georgia Warnell School of Forest Resources.

Experts/Sources:
Coleman W. Dangerfield Jr.
Bob Izlar
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