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GA HB1192

Bill

Official Source

Status

Passed

5/27/2010

Primary Sponsor

Larry O'Neal

Click for details

Origin

House of Representatives

2009-2010 Regular Session

AI Summary

  • Amends Georgia Code Section 48-6-4 to change how real estate transfer tax is paid when a property spans more than one county
  • Replaces the prior rule of paying the full tax in the county where the deed is first recorded with a proration system distributing the tax among all applicable counties
  • Each county's share is calculated based on the ratio of the fair market value of the property in that county to the total value of all properties described in the deed, using the most recent county tax assessor valuations
  • Requires the property values to be disclosed on the face of the deed or submitted via affidavit by the person presenting the deed for recording
  • Requires an original or duplicate original of the deed to be presented for recording in every county where the property is located, with each county clerk authorized to collect that county's prorated portion of the tax

Legislative Description

Real estate transfer tax; property in more than one county; change provisions

Last Action

Effective Date

7/1/2010

Committee Referrals

Finance3/18/2010
Ways and Means2/17/2010

Full Bill Text

No bill text available