Gateway Pines Hahira, Lp v. Lowndes County Board of Tax Assessors

Summary

The court held that county tax assessors may use the income approach to determine the fair market value of Section 42 affordable-housing properties. The governing statute limits when Section 42 tax credits may be counted as income under that approach, but it does not prohibit use of the income approach when the credits do not generate actual income. The court overruled the contrary intermediate appellate precedent, reversed, and remanded. No separate opinions were filed.