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HB 0365 - Title Ad Valorem Tax - Used Cars and Tax Rate
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Tracking Level: Negotiating
Sponsor: Shaw Blackmon
Last Action: 4/2/2019 - House - House Agreed Senate Amend or Sub As Amended
House Committee: Ways and Means
Senate Committee: Finance
Assigned To:
Larry RamseyNext Bill

Staff Analysis of the Legislation

This bill would revise the current treatment of used vehicles for title ad valorem tax purposes, to base the tax on the retail sales price of the used vehicle (as compared to the current formula basing the tax on the lower "book" value of the vehicle). In addition, this bill would lower the combined state/local TAVT tax rate from 7% to 6.6% through 2023. Finally, the bill would provide that the purchase of any vehicle with a model year up to 1989 (under current law, 1985) would pay TAVT at the rate of 0.5%. As amended in the Senate, this bill now includes the text of SB 65 (TAVT exemption for transfers from one wholly-owned business to another, provided that TAVT was paid by the first business) and HB 482 (multiple offices for boards of tax equalization).

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text






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