- Assessment basis
- 40% of fair market value, set by statute (O.C.G.A. 48-5-7) — Georgia taxes the ASSESSED (40%) value, so implied market value = assessed ÷ 0.40. EXCEPTIONS by local law: a few cities/independent school systems use different ratios (Decatur 50%; Dalton and Gainesville 100%) — flag city-level ratio checks for Atlanta-metro adjacent and north-GA properties.
- Reassessment cycle
- Annual at fair market value (Jan 1), taxed on a 40% assessed ratio (O.C.G.A. 48-5-7) — implied market value = assessed ÷ 0.40. No state-mandated revaluation schedule; counties adjust when sales-ratio studies drift out of tolerance. City-ratio exceptions: Decatur 50%; Dalton and Gainesville 100%.
- Reassessment trigger
- Annual review. HB 581 (eff. 2025) removed Georgia's former sale-price cap — a sold property's next-year value is no longer bounded by its transaction price (confirm amended 48-5-2 mechanics before relying on post-sale forecasts).
- Personal & intangible property
- Business TPP (equipment, fixtures, inventory) taxed at the same 40% ratio; return Jan 1–Apr 1; $20,000 exemption (Referendum A, eff. 2025). FREEPORT county-elected inventory exemption — decisive for industrial/warehouse. No annual intangibles tax.
- CRE forecasting note
- No cap on commercial. STRICT 45-day appeal window from notice mailing; Board of Equalization / hearing officer (higher-value) / arbitration; costs and fees recoverable if final value ≤85% of original. Watch: HB 581/92 opt-status through 2029; the new Georgia Tax Court (2026) — state DOR disputes only; county assessment appeals still end in superior court.
- Residential note
- HB 581 floating homestead exemption (eff. 2025) caps homestead taxable-value growth at an inflation index — but jurisdiction opt-outs (incl. most Atlanta metro counties/school districts) make it address-specific; HB 92 opt-in windows run to 2029. Standard/local homestead exemptions vary widely by county and city; 48-5-299(c) value lock after appeal applies to homes too.
SPLIT RATE — 40% statutory ratio (Decatur 50%; some cities 100%).
APPEAL DEADLINE — 45-day strict appeal window from assessment notice.
REFORM IN FLIGHT — HB 581 floating homestead with county opt-outs still settling.
Primary sources: GA DOR; O.C.G.A. 48-5-2/-6/-7/-42.1; GAAO; SOS 2024 ballot measures (as of 2026-07-02/03). Confirm current rules and figures with the assessing authority before any use.