Ad Valorem Tax Exemption For Timber
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FAQ
The GEORGIA FOREST LAND PROTECTION ACT OF 2008 (O.C.G.A. 48-5-7.7) provides for an ad valorem tax exemption for property primarily used for the good faith subsistence or commercial production of trees, timber, or other wood and wood fiber products and excludes the entire value of any residence located on the property.
You must include the Ag/Timber Number on the agricultural exemption certificate (PDF) or the timber exemption certificate (PDF) when buying qualifying items. Ag/Timber Numbers must be renewed every four years, regardless of when the number was first issued. Renewed and new Ag/Timber Numbers expire Dec. 31, 2023.
For property tax purposes standing timber is taxed only once following its harvest or sale, at 100% of the sales price. Timber sales are subject to taxation even if the land underneath is exempt unless taxation has been prohibited by federal law or treaty.
There are three main ways to reduce the tax bill; 1) report income as capital gains, 2) calculate the timber basis and depletion, and 3) keep receipts for all out-of-pocket expenses related to the timber sale.
