Overview

Property is taxable in the county where it is located unless otherwise provided by law. (O.C.G.A. & sect; 48-5-11)

Generally, Walton County real estate and business personal property taxes are due by November 15. If taxes are not collected on the property, it may be levied upon and ultimately sold. Property tax collected by the local government is used to pay for the support of services provided by the Walton County Board of Education, Walton County and the State of Georgia.

Points of Interest

• Assessed Values
• Timber
• Equipment, Machinery, and Fixtures
• Property Tax Returns
• Personal Property
• Motor Vehicle Registration
• Mobile Home Permits
• Property Tax Refunds
• Exemptions

Assessed Values

In Georgia property is assessed at 40% of the fair market value unless otherwise specified by law. (O.C.G.A.§ 48-5-7) Property is assessed at the county level. 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.§ 48-5-340)

The tax bills received by property owners will include both the fair market value and the assessed value of the property. Fair market value means "the amount a knowledgeable buyer would pay for the property and a willing seller would accept for the property at an arm's length, bona fide sale." (O.C.G.A.§ 48-5-2)

Property owners that do not agree with the appraised value on their tax bill can file an appeal with the Board of Assessors. (O.C.G.A.§ 48-5-311) If no agreement is reached, the appeal is automatically forwarded to the Board of Equalization.

Timber

Standing timber is not taxed until sold or harvested, at which time it is taxed based upon 100 percent of its fair market value. This value is then multiplied by the appropriate mill rate to determine the tax amount due.

Equipment, Machinery, and Fixtures

Equipment, machinery, and fixtures are assessed at 40 percent of fair market value. The tax assessor may value the equipment, machinery, and fixtures of a going business to reflect the fair market value of the business as a whole. When no ready market exists for the sale of equipment, machinery, and fixtures, a fair market value may be determined by resorting to any reasonable, relevant, and useful information available. This information may include, but is not limited to, the original cost of the property, depreciation or obsolescence, and any increase in value by reason of inflation.

Property Tax Returns

Property tax returns for real estate must be filed with the Walton County Tax Assessor at the Courthouse between January 1 and April 1 of each year where property has changed or been acquired. The taxpayer may elect not to file a property tax return if they have no changes that would affect the value of their property from the previous year. Failure to file a required return will subject the taxpayer to a 10% penalty on the value of the property not returned plus interest and possibly penalties from the date the tax would have been due.

Personal property tax returns (PT-50p) are to be filled annually with the Board of Assessors without regard to change in value or use. This deadline is April 1.

Motor Vehicle Registration

Vehicle owners must renew their registration and pay the ad valorem tax every year during the 30-day period, which ends on their birthday. If the vehicle is owned by more than one person, then the birthday of the person's name that appears first on the title is used to determine the registration period. Newly acquired vehicles must be registered within 30 days from the date of purchase. The Walton County tag office is located in the Walton County Courthouse, 303 South Hammond Drive. Hours are from 8:30am-4:45pm, Monday - Friday. Phone (770) 267-1335. For more detailed information regarding motor vehicle registration, please visit our Motor Vehicles web page.

Mobile/Modular Home Location Permits

Owners of mobile homes that are located in Walton County on January 1 must return the mobile home for taxation to the Tax Commissioner on or before April 1 of each year at the same time they apply for the location permit. Failure to file the required return will result in a 10% tax penalty.

It should be noted that there are two opportunities for a mobile/modular homeowner to appeal their valuation, one is during the return period and the other is within 45 days of when the bill is mailed. Bills for mobile/modular homes in Walton County are usually mailed in January.

Ad Valorem Tax Refunds

If a taxpayer discovers they have paid taxes that they believe were illegal or erroneous, they may request a refund within 3 years of the date of payment. The claim for refund should be filed in writing with the board of commissioners within three years after the date of payment. Applications for refunds are available from the Board of Assessors or the Tax Commissioner. Refunds for erroneous paid taxes must be based on "errors of fault" and not on disagreements of value.

EXEMPTIONS

Exemptions can typically be defined as a portion of the assessed value that will be free of taxation.

Homestead Exemption

The deadline for filing an application for a homestead exemption in Walton County is April 1. Application for homestead exemption is made with the Tax Assessor’s office. Failure to apply by the deadline will result in loss of the exemption for that year. Beginning July 1, 2005 application for homestead exemption may be submitted any time during the year but must be received before April 1 of the taxable year to qualify for the exemption that year. If received after April 1, the tax assessor will activate the exemption the following year.

The State of Georgia offers homestead exemptions to persons that own and occupy their home as a primary residence. Walton County offers homestead exemptions that are more beneficial to the taxpayer than the exemptions offered by the State. For information concerning local homestead exemptions contact the Tax Assessor’s Office. The homestead exemption is deducted from the assessed value (40% of the fair market value) of the home. Then the mill rate is applied to arrive at the amount of ad valorem tax due.

School Exemption

Homeowners 65 years old or older are granted an exemption on the person's homestead from all Walton County School District ad valorem taxes for educational purposes. (limited to a house and 1 acre) Must apply by April 1 of the year following turning age 65.

Homeowners 70 years old or older receive an exemption up to $30,000 on excess land above 1 acre on homesteaded property. Must apply before April 1 of the year after turning age 70.