05 LC 21
8270
House
Bill 631
By:
Representatives Lane of the
158th,
Rogers of the
26th,
and Burns of the
157th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 1 of Chapter 6 of Title 48 of the Official Code of Georgia
Annotated, relating to real estate transfer tax, so as to provide that the
General Assembly may by local Act impose an additional such tax; to provide for
a referendum; to provide that such tax shall be paid to the county in which such
real estate is located; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
1 of Chapter 6 of Title 48 of the Official Code of Georgia Annotated, relating
to real estate transfer tax, is amended by striking in its entirety Code Section
48-6-1, relating to transfer tax rates, and inserting in lieu thereof the
following:
"48-6-1.
(a)
There is imposed a tax at the rate of $1.00 for the first $1,000.00 or
fractional part of $1,000.00 and at the rate of 10¢ for each additional
$100.00 or fractional part of $100.00 on each deed, instrument, or other writing
by which any lands, tenements, or other realty sold is granted, assigned,
transferred, or otherwise conveyed to or vested in the purchaser or purchasers,
or any other person or persons by his or their direction, when the consideration
or value of the interest or property conveyed (exclusive of the value of any
lien or encumbrance existing prior to the sale and not removed by the sale)
exceeds $100.00.
(b)
The General Assembly is authorized to impose by local Act for a county an
additional tax at the rate of up to 1 percent of the total price on each deed,
instrument, or other writing by which any lands, tenements, or other realty sold
is granted, assigned, transferred, or otherwise conveyed to or vested in the
purchaser or purchasers, or any other person or persons by his, her, or their
direction, when the consideration or value of the interest or property conveyed
(exclusive of the value of any lien or encumbrance existing prior to the sale
and not removed by the sale) exceeds $100.00. Such local Act shall be
conditional upon a referendum in the county. Such amount shall be paid to the
governing authority of the county in which the land is
located."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.