Georgia Voters Approve Ballot Measure Exempting Forestry Equipment From Property Tax

According to the New York Times, Georgia voters on Tuesday (11-8-22) approved by a margin of 59% to 41%, “Referendum A” which, beginning January 1st, 2023, will provide an annual ad valorem (property) tax exemption for equipment use for managing, harvesting, and replanting forests. This type of exemption has been available to owners of farm equipment for decades. It will apply to more than 1,200 small businesses that directly support over 5,400 jobs.

Referendum A does not impact the annual ad valorem tax on timberland, the ad valorem tax paid at the time when trees are harvested, or federal income tax.