Property is taxable in the county where it is located unless otherwise provided by law. (O.C.G.A. & sect; 48-5-11). Taxes for real estate and business personal property are normally due in Peach County by December 20 of each year. Mobile/modular homes are due April 1 of each year and motor vehicles are due based on the primary owners' birthday.
Generally, Peach County real estate and business personal property taxes are due by December 20. If taxes are not collected on the property, it may be levied upon and ultimately sold. Property tax collected by the local government is used to pay for the support of services provided by the Peach County Board of Education, Peach County and the State of Georgia.
When property has been sold or acquired, property tax returns for real estate must be filed with the Peach County Tax Assessor at the Courthouse between January 1 and April 1 of each year.
It also import to be sure no prior year taxes are owed on real property being purchased, as taxes follow the property and become the responsibility of any subsequent owner.
Personal property tax returns (PT-50P) are to be filed annually with the Board of Assessors without regard to change in value or use. This deadline is April 1. Failure to file a required return will subject the taxpayer to a 10 percent penalty on the value of the property not returned plus interest and possibly penalties from the date the tax would have been due.
In Georgia property is assessed at 40 percent of the fair market value unless otherwise specified by law. (O.C.G.A. § 48-5-7) Property is assessed at the county level. The State Revenue Commissioner is responsible for examining the tax digests of counties in Georgia in order to determine that property is assessed uniformly and equally between and within the counties. (O.C.G.A. § 48-5-340)
The tax bills received by property owners will include both the fair market value and the assessed value of the property. Fair market value means "the amount a knowledgeable buyer would pay for the property and a willing seller would accept for the property at an arm's length, bona fide sale." (O.C.G.A. § 48-5-2)
Property owners that do not agree with the appraised value on their tax bill can file an appeal with the Board of Assessors. (O.C.G.A. § 48-5-311) If no agreement is reached, the appeal is forwarded to the Board of Equalization.
Standing timber is not taxed until sold or harvested, at which time it is taxed based upon 100 percent of its fair market value. This value is then multiplied by the appropriate mill rate to determine the tax amount due.
Equipment, Machinery, and Fixtures
Equipment, machinery, and fixtures are assessed at 40 percent of fair market value. The tax assessor may value the equipment, machinery, and fixtures of a going business to reflect the fair market value of the business as a whole. When no ready market exists for the sale of equipment, machinery, and fixtures, a fair market value may be determined by resorting to any reasonable, relevant, and useful information available. This information may include, but is not limited to, the original cost of the property, depreciation or obsolescence, and any increase in value by reason of inflation.