Taxpayers when changes are made to the value of property, receive and review all appeals filed, and insure that the appeal process proceeds properly. The Paulding County Board of Tax Assessors, appointed for fixed terms by the county commissioners, is responsible for the appraisal, assessment, and the equalization of all assessments within the county.This amount will be absolete in tax year 2016. In addition, the State levies ad valorem tax each year in an amount. The State Revenue Commissioner is responsible for examining the tax digests of counties in Georgia in order to determine that property is assessed uniformly and equally between and within the counties (O.C.G.A.Several distinct entities are involved in the ad valorem tax process: Is equal to $1.00 for each $1,000 of assessed value, or. " The amount of tax is determined by the tax rate (mill rate) levied by various entities (one mill Fair market value, means "the amount a knowledgeableīuyer would pay for the property and a willing seller would accept for the property at an arm's length, bona fide sale. The tax is levied on the assessed value of the property which, by law, is established at 40% of the fair market value unless otherwise specified by law.
The basis for ad valorem taxation is the fair market value of the property, which is established as of Januaryġ of each year. Ad valorem tax, more commonly known as property tax, is a large source of revenue for local governments in Georgia.
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