Ga. Comp. R. & Regs. R. 560-11-2-.19 - Municipal Corporation Ad Valorem Taxes-Installments

(1) Except as otherwise authorized by the State Revenue Commissioner as provided by law, any municipal corporation in this State located in any county whose annual tax digest for the current year has not been prepared and approved by the State Revenue Commissioner when such municipal corporation normally sends ad valorem tax bills to its taxpayers and begins collection of the annual taxes due is hereby authorized to collect taxes due in the following manner:

(a) The municipal corporation must, by appropriate action of the governing authority, adopt a method of paying ad valorem taxes for the current year in two or more installments.

(b) The municipal corporation must use as the basis of taxation for all installment payments so adopted, except the final installment, the valuation for the property as finally determined for State and county tax purposes for the preceding tax year.

(c) The municipal corporation must use as the basis of taxation for the final installment for the current year, the valuation as finally determined and approved by the State Revenue Commissioner for State and county tax purposes for the current tax year. Taxes due on the final installment shall be adjusted to reflect total tax liability to the municipal corporation for the property based upon the county valuation of the property and the municipal corporation tax rate for the current tax year after credit has been given for estimated taxes paid previously on such property. Should the estimated taxes previously paid on such property under the installment method adopted exceed the total tax liability for the current year, the excess payment shall be refunded by the municipal corporation.

(2) Nothing contained in this Regulation shall be deemed or construed to impose any liability for the payment of any such ad valorem taxes upon any person, firm or corporation for property which was not owned on the first day of January of the applicable tax year.

Notes

Ga. Comp. R. & Regs. R. 560-11-2-.19

Ga. Code Ann. Secs. 92-4004, 92-8405, 92-8406, 92-8409, 92-8427.

Original Rule entitled "Municipal Corporation Ad Valorem Taxes - Installments" adopted. F. May 1, 1973; eff. May 21, 1973.