SCAD's 17-story dorm receives educational property tax exemption for tax year 2024

Evan Lasseter, Savannah Morning News
·1 min read
The Savannah College of Art and Design's newest building, which is located nest to the Talmadge Bridge, towers over the buildings surrounding it.
The Savannah College of Art and Design's newest building, which is located nest to the Talmadge Bridge, towers over the buildings surrounding it.

The Savannah College of Art and Design's 17-story dorm on Indian Street is officially property tax-exempt for tax year 2024. The parcel is 80% completed for the tax year and has a market value of $26.7 million, according to the Chatham County Board of Assessors.

The exemption was approved by the Board of Assessor's Thursday. The dorm qualifies for a typical tax exemption awarded for education-related properties.

The property next to the future dorm, which has been permitted to be renovated into a classroom and studio space was also awarded its 2024 property tax exemption. The market value of the property is $2.9 million.

SCAD purchased another property at 102 E. Lathrop on Jan. 9 and requested its property tax exemption in March. That exemption was denied, however, because SCAD was not the owner of record on Jan. 1, according to the Board of Assessor's agenda item.

Evan Lasseter is the city and county government reporter for the Savannah Morning News. You can reach him at ELasseter@gannett.com.

This article originally appeared on Savannah Morning News: 17-story SCAD dorm receives property tax exemption for tax year 2024