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2022 Georgia Code
Title 48 - Revenue and Taxation
Chapter 5 - Ad Valorem Taxation of Property
Article 2 - Property Tax Exemptions and Deferral
Part 1 - Tax Exemptions
§ 48-5-42.1. Personal Property Tax Exemption for Property Valued at $7,500.00 or Less
Universal Citation: GA Code § 48-5-42.1 (2022)
- It is the intent of this Code section to exempt from the payment of ad valorem taxation certain tangible personal property on which the tax due does not exceed the reasonable cost of administering and collecting the tax.
- All tangible personal property of a taxpayer, except motor vehicles, trailers, and mobile homes, shall be exempt from all ad valorem taxation if the actual fair market value of the total amount of taxable tangible personal property owned by the taxpayer within the county, as determined by the board of tax assessors, does not exceed $7,500.00.
History. Code 1981, § 48-5-42.1 , enacted by Ga. L. 1986, p. 878, § 1; Ga. L. 1988, p. 13, § 48; Ga. L. 2001, p. 1218, § 1.
Editor’s notes.
The Act (Ga. L. 1986, p. 878) which enacted the exemption granted by this Code section and which became effective on January 1, 1987, and was applicable to all tax years beginning on or after January 1, 1987, was approved by a majority of the voters voting at the November, 1986 general election.
The state-wide referendum (Ga. L. 2001, p. 1218, § 2) which provided for an ad valorem tax exemption for tangible personal property not exceeding $7,500.00 total was approved by a majority of the qualified voters voting at the November, 2002 general election.
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