Property taxes are determined by tax rates and assessment ratios which vary by location and state. In Georgia the assessment ratio is 40% of fair market value.
A realistic method to compare property taxes from different locations is to use the ‘effective tax rate’. Effective property tax rates combine city, county, school, and state tax rates into one convenient figure – the annual tax for each $1,000 of property at its fair market value. This rate applies to all real and personal property – land, buildings, equipment and inventory. Certain property is exempt from local property tax.
Effective Property Tax Rates - 2021:
|Greene County Unincorporated*||$ 8.01/$1,000 FMV|
|Greene County Inside Greensboro*||$ 9.68/$1,000 FMV|
|Greene County Inside Union Point*||$10.45/$1,000 FMV|
* Includes Fire District Millages which vary by District
Millage Rates: *
|Unincorporated Greene County||5.256||5.370||5.375||6.049|
|Incorporated Greene County||5.256||5.370||5.799||6.049|
|Library & Recreation||0.352|
|Greene County Board of Education||12.454||14.195||14.719||13.620|
*Tax rate applied to 40% of fair market value; rates are net after tax rollback from Local Option Sales Tax (LOST)
Greene County and all cities have 2% local sales tax (Local Option Sales Tax and Special Purpose Local Option Sales Tax in addition to the 4% state sales tax. Education Local Option Sales Tax – (ELOST) 1%.
Total Sales Tax - 7% (2021)
Inventory Tax Exemptions (Freeport)
Freeport is the general term used for the exemption of ad valorem tax on inventories as defined by Georgia law. The law offers manufacturers, distributors, wholesalers and warehouse operations an attractive inventory tax exemption on three classes of property. Greensboro and Greene County exempt 100% on all three classes of certain business inventory from property taxation.
The three classes of goods that are exempted from taxation in Greene County include the following:
Tangible personal property grown, harvested, manufactured processed or refined in Greene County and stored therein for shipment outside the state is exempted at the 100 percent level. Raw materials and partially finished goods not destined to be shipped outside the state are subject to tangible personal property taxation.
Inventory of finished goods manufactured or produced within the state of Georgia in the ordinary course of the taxpayer’s manufacturing or production business when held by the original manufacturer or producer of the finished goods for a period not to exceed 12 months is exempted from personal property taxation at the 100 percent level.
Tangible personal property transported into Greene County from outside the state in transit to another destination outside the state is exempted from personal property taxation at the 100 percent level. Tangible personal property that is not destined for out- of-state shipment is subject to ad valorem taxation.
JOB TAX CREDIT
Greene County, Georgia is classified as a Tier 3 county by the Georgia Department of Community Affairs.
Greene County Job Tax Credit Amount: $1,750 for qualifying companies for the current year (Includes Joint Development Authority Bonus of $500)
Tier classifications for each Georgia county refers to the economic well-being of a county and utilizes certain economic factors in making the determination of job tax credit tier:
For more information go to:
Georgia Department of Community Affairs website
JOINT DEVELOPMENT AUTHORITY
Yes – Lake Oconee Area Development Authority (Greene and Putnam Counties)