Car dealers and other big-ticket retailers may get advalorum tax break

[gpatt0n]

Representative Powell Introduces Legislation to Provide Freeport Tax Exemptions

 

House Bill 1082 gives businesses property tax relief

 

 

 

ATLANTA — State Representative Jay Powell (R-Camilla) introduced House Bill 1082 last week – legislation aimed at allowing local governments to expand Freeport ad valorem exemptions to all types of business inventory.

 

“During these tough economic times, it is important that we allow local governments to offer tax relief to businesses in their communities so they can better compete in the global marketplace,” said Representative Powell. “HB 1082 will help struggling businesses stay open and keep Georgians employed.”

 

The current Freeport exemption applies to all or any combination of the following: items produced in Georgia that are being held at in-state storage facilities, products produced in Georgia that remain on the manufacture site, and/or items produced outside of Georgia that are only temporarily held in Georgia before they are shipped to another location outside the state.

 

HB 1082 would create a second, or “Level 2” exemption that applies to all other inventory of finished goods. The bill allows voters to decide through local referendum whether their county or city should exempt all inventory. Local governments can offer a full exemption or may choose to exempt 20, 40, 60, or 80 percent of the value of such tangible personal property. Communities that approve the exemptions must then immediately transmit a copy of the resolution to the state Department of Revenue commissioner.

HB 1082 has been assigned to the House Committee on Ways & Means. A link to the bill can be found by clicking here.

[conehead]

If the state government legislatures did not feel the need to justify their road trips to Atlanta to get drunk with their prostitutes, they would just repeal a bad law instead of adding additional complications to an old bad one.

 

WHY NOT JUST REPEAL AD VALOREM ALTOGETHER?

 

Oh, that would be too easy.