Preferential Assessment for Agricultural Property
(Statewide Ref. Ga Code Ann. 48-5-7.4.1)
Property eligible for preferential agricultural assessment is 2000 acres or less of tangible real property, owned by one or more natural or naturalized citizens or a family farm corporation, the controlling interest of which is owned by individuals related to each other within the fourth degree by civil reckoning, and such corporations derived 80% or of its gross income for the year immediately preceding the year in which application for preferential assessment is made from bona fide agricultural pursuits carried out on tangible real property located in this state which
property is devoted to bona fide agricultural purposes.