Property Tax Alert: Georgia

June 2004

Georgia has enacted provisions addressing the assessment of personal property tax and the freeport personal property tax inventory exemption.

If the freeport personal property tax inventory exemption has been granted to a taxpayer for a taxable year, the county board of tax assessors must issue a notice of renewal to the taxpayer for the following taxable year by January 15 of that year.

In regards to personal property tax, it may be assessed at any time. If the tax return is filed or deemed to be filed, the amount of any tax imposed must be assessed within three years of the date the original tax bill was paid, unless the property is the subject to an audit. If the property owner has been notified of a pending audit, tax may be assessed at any time. If before the expiration of the personal property tax assessment period, both the taxpayer and the board of tax assessors consent in writing, tax may be assessed after the expiration of the assessment period.

Please contact Rash & Associates for more information.