O.C.G.A.

O.C.G.A. § 48-5-353 (2019)

Basis for fair market value of property subject to both municipal and county ad valorem taxes

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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Except as otherwise provided in Code Section 48-5-7, the board of tax assessors in each municipality which has such a board pursuant to the municipal charter shall use as the basis for fair market value of property subject to both municipal and county ad valorem taxation the 100 percent fair market value determined for the property for county ad valorem taxation purposes before being reduced to the 40 percent assessed value required by law for county ad valorem taxation purposes.

History

Code 1933, § 92-4004, enacted by Ga. L. 1972, p. 1103, § 1; Ga. L. 1973, p. 913, § 1; Ga. L. 1974, p. 1206, § 4; Code 1933,

§ 91A-1503, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1981, p. 599, § 1; Ga. L. 1992, p. 1226, § 1; Ga. L. 1994, p. 237, § 2.

Annotations

JUDICIAL DECISIONS Applicability. - Statute does not apply to municipalities which do not have

a board of tax assessors pursuant to their charters. Town of Lyerly v. Short, 234 Ga.

877, 218 S.E.2d 588, 1975 Ga. LEXIS 1312 (1975). RESEARCH REFERENCES Am. Jur. 2d. 72 Am. Jur. 2d, State and Local Taxation, §§ 642, 643.