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Senate OKs overhaul to property taxes

POSTED: March 12, 2010 12:12 p.m.
ATLANTA - The state Senate has approved a wide-ranging overhaul of property taxes in Georgia.

The Senate voted 54-0 for the measure on Thursday.

Its sponsor, Senate Majority Leader Chip Rogers, says assessments in Georgia aren't keeping pace with fair market values. The Woodstock Republican says the economy has dragged down home vales, but many assessments remain artificially high.

The bill requires that homes be assessed every year. It extends the appeals process from 30 to 45 days and requires that all comparable sales, including bank sales and foreclosures, must be applied when officials set an assessed value.

The measure now moves to the House.

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