Personal property valued at $20,000 or less is automatically exempt from ad valorem taxes. The property, however, must be returned, valued, and entered on the tax digest. Owners of personal property with a value of less than $20,000 receive no bill.

The following types of tangible personal property qualify for tax exemption when a Freeport application is included with a timely filed Return:

• Inventory of goods in the process of being manufactured or produced including raw materials and partly finished goods; 100% exemption
• Finished goods produced in Georgia within the last 12 months: 100% exemption
• Finished goods stored in Georgia within the last 12 months and destined for shipment out of state: 100% exemption

 

The Freeport filing date for 100% exemption is January 1 through April 1. The exemption amount for late filed applications is:

April 2 to April 30:	66.67%
May 1 to May 31:	58.33%
June 1:	50%

 

Exemptions not filed by June 1 waive the entire exemption for the year.

Certain properties are exempt from ad valorem taxes based on ownership and use of the property. (Georgia Code 48-5-41) The general rule for all exemptions is:

• Property owner is a nonprofit organization (a copy of your IRS 501(c)(3) award letter will be requested)
• The owner must be using the property
• Use of the property by the owner must be for a purpose expressly exempted in Georgia Code

 

A property is not exempt if primarily used by a person or organization other than the owner of record, or if it is rented, leased, or used for the primary purpose of securing an income. Latent ownership of a property by a nonprofit organization does not qualify the property for exemption. For more information, please contact our office.

The following categories are exempt:

• Places of religious worship
• Purely public charities
• Nonprofit hospitals
• Educational institutions
• Air or water pollution facilities
• Nonprofit homes for the aged or mentally disabled
• Veteran’s organizations
• Historical fraternal benefit associations chartered prior to January 1, 1880

 

**Please Note: Exempt status requires completion of an Exempt Questionnaire, eligibility review, and approval by the Board of Assessors**