What is the assessed value for bona fide conservation properties for property tax purposes?

When considering the assessed value for bona fide conservation properties for property tax purposes, the correct understanding centers around current use value, which takes into account the property's designation and its use in a conservation role. In Georgia, properties that qualify as bona fide conservation properties are valued at 40 percent of their current use value, rather than their market value which is often higher. This approach encourages landowners to maintain land for conservation purposes by reducing the financial burden associated with property taxes, thus promoting environmental stewardship.

This assessment method differs significantly from the other options. Assessed values based on a percentage of market value or appraisal value may not reflect the actual use and purpose of the land when designated for conservation, which is critical in fostering a more sustainable approach to land use. By specifically using current use value for conservation properties, the tax system supports the land's conservation status and helps ensure that agricultural or environmentally sensitive lands remain intact.