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2013

2013. TAX DIGEST SUBMISSION . What is the tax digest?. A listing of assessments (value) and exemptions Real and Personal Property Timber Mobile Homes Motor Vehicles Heavy Duty Equipment Public Utilities. Who’s Responsible?. Tax Commissioner Tax Assessor County Board of Commissioners

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2013

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  1. 2013 TAX DIGEST SUBMISSION

  2. What is the tax digest? A listing of assessments (value) and exemptions Real and Personal Property Timber Mobile Homes Motor Vehicles Heavy Duty Equipment Public Utilities

  3. Who’s Responsible? Tax Commissioner Tax Assessor County Board of Commissioners County Board of Education

  4. Board of CommissionersBoard of Education Establish annual budget Set Millage rate Advertise and Hold Public Hearings

  5. COUNTY MILLAGE RATE CERTIFICATION

  6. Setting Millage Rate Budget / Net Assessed Value = Millage Rate $2,513,394 / 136,597,405 = 0.01840 0.01840 x 1000 18.40 gross mills

  7. O.C.G.A. 48-5-304 …The commissioner shall not be required to disapprove or withhold approval of the digest of any county solely because appeals have been filed or arbitrations demanded on the assessment of any property or number of properties in the county …

  8. WORKSHEETS, ROLLBACKS, ADVERTISEMENTS PT32.1A - Revenue Reduction Calculation Worksheet PT32.1 - Computation of Millage Rate Rollback Current Digest and Five Year History Advertisement Notice of Property Tax Increase Advertisements Press Release

  9. PT32.1A Revenue Reduction Calculation Worksheet Used to calculate the value of revenue reduction due to implementation of the Forest Land Protection Act of 2008

  10. PT32.1 Calculation of Millage Rate Rollback Amended to include Revenue Reduction Value attributable to the implementation of the Forest Land Protection Act of 2008.

  11. Advertisements O.C.G.A. 48-5-32 and O.C.G.A. 48-5-32.1 Requires levying and recommending authority: To publish 5-Year History and Current Digest If proposed millage exceeds rollback rate (as calculated by PT32.1 form) a Press Release must be issued and three public hearings must be held and advertised as Notice of Tax Increase

  12. Format for Notice of Tax Increase

  13. Digest Submission Date? August 1st or Date approved by Revenue Commissioner

  14. Order Issued The Revenue Commissioner issues an order authorizing the Tax Commissioner to proceed with the billing & collection process. Penalty for Collection of tax before Commissioner’s Order is Received: Double Amount Attempted to be Collected

  15. What happens if the digest can not be submitted by August 1st ? Request for an extension must be submitted in writing to Revenue Commissioner, along with detailed explanation of circumstances that warrant consideration for the extension.

  16. No digest in sight? Voluntary Collection Order issued by Revenue Commissioner. Temporary Collection Order issued by Superior Court Judge. 48-5-310

  17. QUESTIONS?

  18. House Bill 386Tax Reform Legislation Title Ad Valorem Tax

  19. What changed on March 1, 2013? • Titled motor vehicle purchased on or after March 1, 2013: • Exempt from sales and use tax • Exempt from annual ad valorem tax (birthday tax) in Chapter 5 of Title 48 • Subject to a title ad valorem tax (TAVT) • Alternative ad valorem tax

  20. Definitions • “Motor Vehicle” means every vehicle which is self-propelled other than an electric personal assistive mobility device (EPAMD). • O.C.G.A. § 40-1-1(33) • Titled Vehicles

  21. How is TAVT Calculated? FMV of vehicle - Trade In Value(dealer sales only) Taxable Value Taxable Value * rate = Tax Due

  22. Comparison Pre-March 1 March 1 $35,000 sale price - $15,000 trade in allowance $20,000 taxable value Title Ad Valorem Tax Due = $1,300.00 $450 savings in year 1 + annual ad valorem tax in future years $35,000 sale price - $15,000 trade in allowance $20,000 taxable value 7.0% Sales Tax = $1,400 Ad valorem based on 25 mills = $350 ($35,000 * .40 * 25 mills) Year 1 taxpayer pays $1,750

  23. Non-dealer (casual) transactions Pre-March 1 March 1 $35,000 value - No allowance for trade in $35,000 taxable value Title Ad Valorem Tax Due =$2,275 + $18.00 Title Application Fee + $20.00 Registration Fee $35,000 value $350 annual ad valorem tax (25 mills * $14,000 assessed value) + $18.00 Title Application Fee + $20.00 Registration Fee

  24. Revenue & Distribution • Local Base amount = $1 billion • Average 2007 and 2008 • Local current collection amount • Amount of ad valorem taxes collected in prior year • Local target collection amount • Local base amount added to the product of 2% of the local base amount multiplied by the number of years since 2012 with a maximum amount of $1.2 billion • 2014 - $1,020,000,000 • 2015 - $1,040,000,000 • State base amount = $535 M

  25. State & Local Title Ad Valorem Tax Rates

  26. Annual Notification • January 15th date for commissioner to make determination of the rate (split) • January 31st notification due to county tax commissioners of the adjusted rate (split) • The effective date of such adjusted rate amounts shall be January 1 of such tax year • 1st distributions cannot be made until notification from DOR of the adjusted rate

  27. Other Adjustments • 2015, 2018, 2022 • July 1 the Revenue Commissioner determines state target collection amount (STCA) and the state current collection amount (SCCA) • If the SCCA is within 1% of the STCA – no change in rate • If the SCCA is more than 1% less of the STCA tax rate may be increased to equal STCA & the LTCA that should have been collected and the increase is given to the state • Notification to county no later than August 31 to be effective January 1 of next calendar/tax year • Rate cannot exceed 9%

  28. Distributions • Proceeds disbursed within 20 days following the end of each calendar month

  29. Distribution to State

  30. Distribution of Local Title Ad Valorem Tax • Within 20 days following the end of each calendar month allocate and distribute in an amount to offset any reduction in ad valorem tax on motor vehicles collected under Chapter 5 of Title 48 (ad valorem tax): • County governing authority • Municipal governing authorities • Board of education of county schools • Board of education of municipal schools

  31. “Old” Ad Valorem Tax • Titled vehicles with no ownership change • Non-titled vehicles • 1985 or older vehicles are not required to be titled • Trailers • Campers

  32. How to Calculate Ad Valorem True-Up • Subtract the amount of ad valorem tax on motor vehicles (old method) collected in the same month of 2012

  33. Shortfall • What happens when there is insufficient funds to make up the difference in ad valorem tax? • Allocate a proportionate amount of available proceeds to each governing authority & school boards • Any remaining funds to be paid will be paid from next month’s proceeds

  34. Distribution of TAVT (3 Thirds)

  35. Distribution of 1st Third

  36. Distribution of 2nd Third

  37. Distribution of 3rd Third

  38. Statistics • Reports/payments received through April 24th from 94 counties for March collections • $ 4,396,180 – True-up ad valorem tax • $12,140,569 – Distributed following sales tax percentages • Total local money (not including admin fee) • $16,536,749 • Admin fee retained by counties - $203,135 • Funds remitted to State • $19,512,795

  39. Statistics • For March 2013 (for counties that data was available) 5 counties “negative” for ad valorem tax true-up • Brantley • Miller • Pulaski • Ware • Washington

  40. Statistics • Daily Average to date for April • $4.7 M • 9,000 transactions (all types)

  41. Statistics • TAVT through April 24, 2013 • $140,589,015 statewide • 356,335 transactions • $129,353,679 from title transfers at 6.5% rate since March 1, 2013 • 197,287 title transfers paying full TAVT rate since March 1, 2013

  42. Contact Vicki Lambert vicki.lambert@dor.ga.gov For Digest Questions Ellen Mills ellen.mills@dor.ga.gov

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