Heron Lake Ii Apartments, Lp v. Lowndes County Board of Tax Assessors

Summary

The Supreme Court of Georgia held that the trial court had subject matter jurisdiction over the Board's declaratory judgment action because the parties presented an actual controversy concerning the valuation of low-income housing tax credits. It further held that those credits are not "actual income" under the statutory income-approach provision because they reduce tax liability rather than provide income, and that the challenged valuation provisions are constitutional because they reasonably limit, but do not prohibit, consideration of the credits. The court therefore reversed the trial court's judgment.