Equipment subject to ad valorem taxation

Except as exempted by law, heavy-duty equipment used for construction purposes which is owned by a nonresident and operated in this state after January 1 of any year and which was brought into Georgia from a state which subjects to taxation heavy-duty equipment owned by residents of this state and taken into such other state after the initial tax assessment date in such other state shall be subject to ad valorem taxation the same as if such heavy-duty equipment had been held or owned in this state on January 1, except that such ad valorem tax shall be prorated with respect to the number of months remaining in the year. History. Code 1981, § 48-5-501, enacted by Ga. L. 1993, p. 1012, § 2. Editor’s notes. Ga. L. 1993, p. 1012, § 3, not codified by the General Assembly, provides: “This Act is passed pursuant to Article VII, Section I, Paragraph III of the Constitution of the State of Georgia which provides that heavy-duty equipment motor vehicles owned by nonresidents and operated in this state may be classified as a separate class of property for ad valorem property tax purposes and different rates, methods, and assessment dates may be provided for such motor vehicles and which authorizes the General Assembly to provide by general law for the ad valorem taxation of motor vehicles.” PART 5 FARM EQUIPMENT Editor’s notes. Ga. L. 2003, p. 190, § 2, not codified by the General Assembly, provides that this part shall be applicable to all taxable years beginning on or after January 1, 2004. 836 48-5-504.20 48-5-504. Self-propelled farm equipment as subclassification of motor vehicle for ad valorem taxation purposes. (a) As used in this Code section, the term: (1) “Dealer” means any person who is engaged in the business of selling farm equipment at retail. (2) “Farm equipment” means any vehicle as defined in Code Section 40-1-1 which is self-propelled and which is designed and used primarily for agricultural, horticultural, forestry, or livestock raising operations. (b) Self-propelled farm equipment which is owned by a dealer and held in inventory for sale or resale shall constitute a separate subclassification of motor vehicle within the motor vehicle classification of tangible property for ad valorem taxation purposes. The procedures prescribed in this chapter for returning self-propelled farm equipment for ad valorem taxation, determining the application rates for taxation, and collecting the ad valorem taxes imposed on self-propelled farm equipment do not apply to self-propelled farm equipment which is owned by a dealer and held in inventory for sale or resale. Such self-propelled farm equipment which is owned by a dealer and held in inventory for sale or resale shall not be returned for ad valorem taxation, shall not be taxed, and no taxes shall be collected on such self-propelled farm equipment until it is transferred and then otherwise, if at all, becomes subject to taxation as provided in this chapter. History. Code 1981, § 48-5-504, enacted by Ga. L. 2003, p. 190, § 1; Ga. L. 2010, p. 878, § 48/HB 1387; Ga. L. 2015, p. 947, § 2/HB 374. PART 6 AIRCRAFT HELD IN DEALER’S INVENTORY Editor’s notes. Ga. L. 2005, p. 1221, § 2/HB 211, not codified by the General Assembly, provides that this part shall be applicable to all taxable years beginning on or after January 1, 2006. 48-5-504.20. Exemption for aircraft owned by a dealer and held in inventory for sale or resale. (a) As used in this Code section, the term: (1) “Aircraft” means any vehicle which is self-propelled and which is capable of flight. (2) “Dealer” means any person who is engaged in the business of selling aircraft at retail. 837 48-5-504.20 REVENUE AND TAXATION 48-5-504.40 (b) Aircraft which is owned by a dealer and held in inventory for sale or resale shall constitute a separate classification of tangible property for ad valorem taxation purposes. The procedures prescribed in this chapter for returning aircraft for ad valorem taxation, determining the application rates for taxation, and collecting the ad valorem taxes imposed on aircraft do not apply to aircraft which is owned by a dealer and held in inventory for sale or resale. Such aircraft which is owned by a dealer and held in inventory for sale or resale shall not be returned for ad valorem taxation and shall not be taxed; and no taxes shall be collected on such aircraft until it is transferred and then otherwise, if at all, becomes subject to taxation as provided in this chapter. History. Code 1981, § 48-5-504.20, enacted by Ga. L. 2005, p. 1221, § 1/HB 211; Ga. L. 2006, p. 72, § 48/SB 465. PART 7 WATERCRAFT AND ALL-TERRAIN VEHICLES HELD IN INVENTORY FOR RESALE 48-5-504.40. Watercraft and all-terrain vehicles held in inventory for resale exempt from taxation for limited period of time. (a) As used in this Code section, the term: (1) “All-terrain vehicle” shall have the same meaning as provided for in paragraph (3) of Code Section 40-1-1. (2) “Dealer” means any person who is engaged in the business of selling watercraft or all-terrain vehicles at retail. (3) “Watercraft” means any vehicle which is self-propelled or which is capable of self-propelled water transportation, or both. (b) Watercraft and all-terrain vehicles owned by a dealer and held in inventory for sale or resale shall constitute a separate classification of tangible property for ad valorem taxation purposes. The procedures prescribed in this chapter for returning watercraft or all-terrain vehicles for ad valorem taxation, determining the application rates for taxation, and collecting the ad valorem taxes imposed on watercraft or all-terrain vehicles do not apply to watercraft or all-terrain vehicles owned by a dealer and held in inventory for sale or resale. Such watercraft or all-terrain vehicles owned by a dealer and held in inventory for sale or resale shall not be returned for ad valorem taxation and shall not be taxed, and no taxes shall be collected on such watercraft or all-terrain vehicles until they are transferred and then otherwise, if at all, become subject to taxation as provided in this chapter. 838 48-5-504.40 AD VALOREM TAXATION OF PROPERTY History. Code 1981, § 48-5-504.40, enacted by Ga. L. 2006, p. 674, § 1/HB 1249; Ga. L. 2008, p. 944, § 1/HB 1046; Ga. L. 2010, p. 575, § 1/HB 1105; Ga. L. 2015, p. 1351, § 1/HB 457; Ga. L. 2016, p. 617, § 1/HB 769; Ga. L. 2019, p. 277, § 3/HB 101. Editor’s notes. Ga. L. 2015, p. 1351, § 2/HB 457, not codified by the General Assembly, 48-5-506 provides, in part, that this Act shall apply to all tax years beginning on and after January 1, 2016, and ending on December 31, 2019. Ga. L. 2016, p. 617, § 2/HB 769, not codified by the General Assembly, provides, in part, that this Act shall apply to all taxable years beginning on and after January 1, 2017. ARTICLE 10A AD VALOREM TAXATION OF HEAVY-DUTY EQUIPMENT MOTOR VEHICLES 48-5-505. Definitions.