07 LC
18 5869
Senate
Bill 8
By:
Senators Johnson of the 1st and Rogers of the 21st
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-5-311 of the Official Code of Georgia Annotated, relating
to county boards of equalization and review and appeal of property tax
assessments, so as to change certain provisions regarding the payment of
interest in taxpayer appeals; to provide for an effective date; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-5-311 of the Official Code of Georgia Annotated, relating to county
boards of equalization and review and appeal of property tax assessments, is
amended by revising subdivision (e)(6)(D)(iii)(II) as follows:
"(II)
If the final determination of the value on appeal is less than the valuation
thus used, the taxpayer shall receive a deduction in such taxpayer´s taxes
for the year in question. Such deduction shall be refunded to the taxpayer and
shall include interest on the amount of such deduction at the same rate as
specified in Code Section 48-2-35 which shall accrue from November 15 of the
taxable year in question or the date the final installment of the tax was due or
was paid, whichever is later.
In no event
shall the amount of such interest exceed
$150.00."
SECTION
2.
Said
Code section is further amended by revising division (g)(4)(B)(i) as
follows:
"(B)(i)
The county board of tax assessors shall use the valuation of the county board of
equalization in compiling the tax digest for the county. If the final
determination of value on appeal is less than the valuation set by the county
board of equalization, the arbitrator, or the arbitrators, as applicable, the
taxpayer shall receive a deduction in such taxpayer´s taxes for the year in
question. Such deduction shall be refunded to the taxpayer and shall include
interest on the amount of such deduction at the same rate as specified in Code
Section 48-2-35 which shall accrue from November 15 of the taxable year in
question or the date the final installment of the tax was due or was paid,
whichever is later.
In no event
shall the amount of such interest exceed
$150.00."
SECTION
3.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.