The ad valorem tax, more commonly
called property tax, is the primary source of revenue for local governments
in Georgia. Ad valorem means "according to value."
The millage
rate is a determining factor in the calculation of your taxes. (A mill
is 1/10 of 1 cent or $1 per $1,000 of assessed value.) The millage rate
multiplied by the assessed value determines the amount of taxes you owe.
All property taxes are calculated in the same way for home, auto, and
personal property.
The millage rate for state
taxes is set at .25 mills by state law. The county Board of Commissioners
sets the millage rate for county taxes, the county Board of Education
sets the millage rate for county school taxes and the city authorities
determine the rate for city taxes.
The county Board of Tax Assessors,
which is appointed by the county Board of Commissioners, assesses all
property for tax purposes. Assessments are by law based upon 40% of the
fair market value as of January 1 each year. This assessment is multiplied
by the millage rate. If there is an increase in the assessment or the
millage rate then there may be an increase in property taxes.
City Taxes
Acworth, Austell, Kennesaw, Marietta, Smyrna and
Powder Springs collect their own city taxes. For tax information,
contact the city tax department directly at the following phone numbers
or click the appropriate link below to access their web site:
Timber Tax
Standing timber is assessed
for ad valorem taxation only once, at the time of harvest or sale, separate
and apart from the underlying land. Such timber is assessed at 100% of
its fair market value.
All timber harvests or sales
must be reported in the county where the timber was grown to either the
Tax Commissioner's or the Tax Assessors' Office, depending on the type
of transaction. The tax is paid to the Tax Commissioner of that county.
Timber tax is collected in the accounting department where the timber
deeds are stamped so they can be recorded in the Superior Court Clerk's
Office.
