Georgia DOR Issues Information Regarding Ad Valorem Tax Rate Change

The Georgia Department of Revenue (DOR) June 1 issued a policy bulletin on the revised title ad valorem property tax (TAVT) rate. The TAVT reduction provided by the General Assembly in 2020 expires June 30. Beginning July 1, the TAVT rate will be 7 percent of the fair market value of the motor vehicle and will apply to vehicles purchased or leased from July 1 and titled in Georgia. Starting July 1, the special reduced rate for directly-financed dealer sale purchasers will be 4.5 percent. Certain TAVT rates haven’t changed, including rates for new residents moving to Georgia who bring ...