O.C.G.A. § 48-5-504.40 (2019)
Watercraft and all-terrain vehicles held in inventory for resale exempt from taxation for limited period of time
(a) As used in this Code section, the term:
(1) "All-terrain vehicle" shall have the same meaning as provided for in paragraph (3) of Code Section 40-1-1.
(2) "Dealer" means any person who is engaged in the business of selling watercraft or all-terrain vehicles at retail.
(3) 'Watercraft' means any vehicle which is self-propelled or which is capable of self-propelled water transportation, or both.
(b) Watercraft and all-terrain vehicles owned by a dealer and held in inventory for sale or resale shall constitute a separate classification of tangible property for ad valorem taxation purposes. The procedures prescribed in this chapter for returning watercraft or all-terrain vehicles for ad valorem taxation, determining the application rates for taxation, and collecting the ad valorem taxes imposed on watercraft or all-terrain vehicles do not apply to watercraft or all-terrain vehicles owned by a dealer and held in inventory for sale or resale. Such watercraft or all-terrain vehicles owned by a dealer and held in inventory for sale or resale shall not be returned for ad valorem taxation and shall not be taxed, and no taxes shall be collected on such watercraft or all-terrain vehicles until they are transferred and then otherwise, if at all, become subject to taxation as provided in this chapter.
History
(Code 1981, § 48-5-504.40, enacted by Ga. L. 2006, p. 674, § 1/HB 1249; Ga. L. 2008, p. 944, § 1/HB 1046; Ga. L. 2010, p. 575, § 1/HB 1105; Ga. L. 2015, p. 1351, § 1/HB 457; Ga. L. 2016, p. 617, § 1/HB 769; Ga. L. 2019, p. 277, § 3/HB 101.)
Annotations
Law reviews. For article discussing taxation of foreign businesses in Georgia, see 27 Mercer L. Rev. 629 (1976). For survey article on local government law, see 34 Mercer L. Rev. 225 (1982).
Submission of proposed valuations for flight equipment and aircraft by commissioner to State Board of Equalization. Ad valorem taxation, assessment, and apportionment authorized by article exclusive. Article 13
Ad Valorem Taxation of Airline Companies
Sec.
Definitions. Classification of qualified timberland property; exclusive procedures for appraisal and valuation. Determination of fair market value; access to property; delivery to county tax officials. Adoption and maintenance of qualified timberland property appraisal manual. Certification as qualified owner; requirements. Certification as qualified timberland property; requirements; annual updating; audit; filing with county tax officials. (For effective date, see note.) Appeal of commissioner’s decisions by taxpayer or county board. (For effective date, see note.) Appeal of commissioner’s decisions by taxpayers or groups. Adoption of forms and regulations.
For note on 1991 amendments to this chapter, see 8 Ga. St. U. L. Rev. 182 (1992). For annual survey article on local government law, see 50 Mercer L. Rev. 263 (1998).
JUDICIAL DECISIONS Editor’s notes. - In light of the similarity of the statutory provisions, decisions under former Code 1933, Ch. 92-1, are included in the annotations for this chapter. Commerce clause no bar to nondiscriminatory municipal ad valorem tax. - Commerce clause, U.S.
Const., Art. I, Sec. VIII, Cl. III, does not exempt either tangible or intangible property from a nondiscriminatory ad valorem tax by a municipality. Parke, Davis & Co. v. City of Atlanta, 200 Ga. 296, 36 S.E.2d 773, 1946 Ga. LEXIS 376 (1946) (decided under former Code 1933, Ch. 92-1).
RESEARCH REFERENCES Am. Jur. Proof of Facts. Overassessment of Income-Producing Property - Neighborhood Shopping Center, 3 POF2d 1. Market Value of Single-Family Residence - Market Comparison Appraisal, 5 POF2d 411. Valuation of Structure Based on Reproduction or Replacement Cost, 8 POF2d 399. ALR. Where wrecked vessel taxable, 8 A.L.R. 663. Payment of tax assessment which improperly describes property owned by taxpayer as good payment on that property, 23 A.L.R. 79. Assessment of corporate property at full value according to law when valuations generally are illegally fixed lower, 28 A.L.R. 983; 55 A.L.R. 503. Outstanding lease as affecting taxable value of property against owner, 30 A.L.R. 361. Validity and effect of condition of dedication that remaining property shall not be subject to assessments for improvements, 37 A.L.R. 1357. Inclusion in assessment for public improvement of amount to cover delinquencies as contrary to constitutional guaranties, 42 A.L.R. 1185. Place of taxation of dam, flowage rights, or water power, 64 A.L.R. 143. Deduction of fixed periodical percentage (“straight-line method”) as proper method of determining depreciation for purposes of property or income taxes, 71 A.L.R. 971. Right to recover back taxes paid upon property assessed in wrong district, 94 A.L.R. 1223.
What is a property tax as distinguished from excise, license, and other taxes, 103 A.L.R. 18. Situs as between different states or countries of tangible chattels for purposes of property taxation, 110 A.L.R. 707. Conditional sales in relation to taxation, 110 A.L.R. 1499. Doctrine of equitable conversion in relation to taxation, 112 A.L.R. 23. Tax on corporations as affected by fact that corporation is not actually engaged in or carrying on business for which it was incorporated, 124 A.L.R. 1109. Validity of so-called “sales tax”, 128 A.L.R. 893. Situs for property taxation as between different governmental units within state of personal property or interests therein held by trustees, executors, or administrators, 129 A.L.R. 273. Books or records of title abstracts as subject of property taxes, 149 A.L.R. 1038. Price paid or received by taxpayer for property as evidence of its value for tax purposes, 160 A.L.R. 684. Specific tax imposed on goods in stock of dealer, as excise, or property tax, 173 A.L.R. 1316. Property destined for, or in course of, removal from state as subject to taxation therein, 11 A.L.R.2d 938. Method of calculating value of stock of goods or the like for purposes of tangible personal property tax, 66 A.L.R.2d 833. Requirement of full-value real property taxation assessments, 42 A.L.R.4th 676. Oil and gas royalty as real or personal property, 56 A.L.R.4th 539.
ARTICLE 1 GENERAL PROVISIONS