Personal Property Business Form Withholding In Fulton
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All real property and all personal property are taxable unless the property has been exempted by law. (O.C.G.A.
Georgia exempts a property owner from paying property tax on: Items of personal property used in the home if not held for sale, rental, or other commercial use. All tools and implements of trade of manual laborers in an amount not to exceed $2,500 in actual value.
• All businesses are required by law to file the Business Personal Property. • Tax Return (PT-50P) to the Tax Assessor's Office by April 1st of each year. • Personal property includes machinery, equipment, furniture, fixtures, inventory, supplies, and construction in progress.
The Fulton County effective property tax rate is 1.16%.
Business Personal Property Tax is a tax assessed on tangible personal property businesses own. This type of property includes equipment, furniture, computers, machinery, and inventory, among other items not permanently attached to a building or land.
Personal property is subject to taxation just as real property.
If you own a business - furniture, fixtures, equipment, inventory, and supplies are considered personal property. Ownership of personal property is established as of January 1 each year. A property tax return must be filed with the Tax Assessor's Office annually, prior to April 1. Tax returns are mailed out in January.
