Staff Analysis of the Legislation
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This legislation is a substantial revision of the new state and local title ad valorem tax (TAVT) system. Among other things, the bill changes how fair market value is determined; exempts commercial trucks (IRP vehicles) used for moving products interstate from the new system and continues them under the apportioned ad valorem tax; changes registration procedures; changes numerous items regarding dealers who directly finance sales; changes numerous items regarding leases; and provides for new criminal penalties.
Please have your finance officials and tax commissioner review the proposed changes and provide feedback to Clint Mueller at ACCG. Click here for a summary of the proposed changes.
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