State
Georgia
Year
2021
Does State Classify
Yes
Different Ratios
Yes
Different Rates
No
Local Option
No
Special Exemptions
Georgia tangible real property is assessed at 40% of the fair market value.
Number of Classes
2
Property Classification
| Assessment Ratio | Description | Name | Notes | Tax Rate |
|---|---|---|---|---|
| 40 | Tangible real property, except as otherwise provided | Class 1 | Equipment, machinery and fixtures are assessed at the same rate as real property. Market value for certain properties, such as landmark historic property, property used for conservation purposes, brownfield, and residential properties in transitional developing areas is determined under certain provisions of establishing value. | |
| 30 | Tangible real property devoted to bona fide agricultural purposes | Class 2 | The rate is stated as 75% of other tangible real property. This rate is applied to fair market value. It does not apply to those properties whose value is based on current use value. |
Record ID
GA001_CL21
Sources
Ga. Code Ann. §48-5-7
Ga. Code Ann. §48-5-7.1
(in effect for 2021)
Ga. Code Ann. §48-5-7.1
(in effect for 2021)
Ga. Const. Art VII §1 para. III (c)