Section 48-5-602 - Adoption and maintenance of qualified timberland property appraisal manual(a) The commissioner shall adopt by rule, subject to Chapter 13 of Title 50, the "Georgia Administrative Procedure Act," and maintain a qualified timberland property appraisal manual that shall be used by the commissioner in the appraisal of qualified timberland property for ad valorem tax purposes.(b) The commissioner shall provide for a period of consultation with the Georgia Agricultural Statistical Service, Cooperative Extension Service, Georgia Forestry Association, and State Forestry Commission prior to the adoption of the qualified timberland property appraisal manual.(c)(1) Such manual shall be proposed and published on or before June 1, 2019, and annually thereafter.(2) Published manuals shall apply to the tax year following the tax year in which they are published.(3) This annual publication requirement shall not be construed to require annual adjustments, revisions, or modifications to the appraisal methodology.(d) Such manual shall contain: (1) Complete parameters for the appraisal of qualified timberland property, which shall be limited to determining the fair market value of qualified timberland property through a market approach to valuation, which shall constitute 50 percent of the value, and an income approach to valuation, which shall constitute 50 percent of the value;(2) A table of regional values for qualified timberland property based on the geographic locations and productivity levels within the state; and(3) A prescription of methods and procedures by which identification data, appraisal and assessment data, sales data, and any other information relating to the appraisal and assessment of property shall be furnished to the department using electronic data processing systems and equipment.Amended by 2021 Ga. Laws 256,§ 2, eff. 7/1/2021.Added by 2018 Ga. Laws 296,§ 5, eff. 1/1/2019 only if an amendment to the Constitution of Georgia is ratified at the November, 2018, general election modifying constitutional prescriptions for forest land conservation use property and related assistance grants, permitting the withholding of a portion of assistance grants to provide for certain state administrative costs, and establishing qualified timberland property as a subclassification of tangible property for purposes of ad valorem taxation.