Georgia Department of Revenue
1. UNCLAIMED PROPERTY2. DISTRIBUTION3. PROPERTY TAX DIGEST COMPLIANCE4. PUBLIC UTILITY5. GEORGIA CERTIFICATION PROGRAM
LOCAL GOVERNMENT SERVICE DIVISION
1
Georgia Department of Revenue
1. UNCLAIMED PROPERTY
Unclaimed Property laws require money, intangible property, and other assets that are presumed abandoned to be reported and remitted to the state after the expiration of a dormancy period.
Dormancy period is five years for most property and one year for unclaimed wages.
2
Georgia Department of Revenue
Facts• Georgia UCP collects approximately $130 million annually (last five year average)
• Last year Georgia collected $161,418,366.
• Georgia pays approximately $16 million in claims annually
3
Georgia Department of Revenue
To search for Unclaimed Property in Georgia:• Call 1‐855‐329‐9863 (toll free) to speak to a
claim’s representative; or• Go online http://etax.dor.ga.gov and select
“Search Unclaimed Property in Georgia” then enter your name and city and press search…If your name comes up select “Submit Request” to request a claim form
Maybe GA has some money for you!
4
Georgia Department of Revenue
To search for UCP in all other 49 states:• Go online http://unclaimed.org
There is a map on the home page, click on any state and the site automatically directs you to that state’s UCP siteFollow the search instructions for that site
Good Luck!
Maybe another state has your money!
5
Georgia Department of Revenue
Valuable vs Non‐valuable• Bank deposits, stocks, bonds, insurance proceeds, utility deposits…
• Cash, coins, jewelry, gold, silver …• Guns, knives, evidence...• Diplomas, deeds, titles, birth certificates…
• Baby teeth, clothing, photos, love letters, collectables…
6
Georgia Department of Revenue
2. DISTRIBUTION
• Sales Tax ($400,000,000/month)– LOST– SPLOST– ELOST
• E‐911 Pre‐Paid Wireless ($17 million/year)• Forestland Grants ($28 million/year)• IRP (first annual distribution April 2015)
7
Georgia Department of Revenue
8
Georgia Department of Revenue
400
9
Georgia Department of Revenue
10
Georgia Department of Revenue
11
Georgia Department of Revenue
Market downturn and recovery
Recent sales tax exemptions:
Motor VehiclesManufacturing Agricultural
Georgia Department of Revenue
13
Georgia Department of Revenue
3. PROPERTY TAX DIGEST COMPLIANCE
• Rules and Regulations• Digest Review and Approval• Audits• Performance Reviews• Technical Support
14
Georgia Department of Revenue
Primary Uses for Property Tax Digests
1. Direct taxation to support local governments– $10 Billion per year
2. State school funding (QBE)– Equalization grants– 5 mill share
3. Invaluable demographic data
15
Georgia Department of Revenue
History:
County Boards of assessors were created by legislation in 1913 to seek out unreturned property or concealed property.
At that time, taxpayers declared their own value ….
16
Georgia Department of Revenue
17
In the 1960’s….
The state created a revaluation loan program to assist counties in correcting assessment deficiencies
The state auditor performed the first statewide sales ratio study.
Assessment levels across the state averaged 21.3%
Georgia Department of Revenue
Legislation implemented between 1972 ‐ 1992
• Established requirement for county appraisal staff• Created the State board of equalization ‐ public utility appeals• Created the County boards of equalization ‐ local tax appeals• Adopted the measurements for quality in the tax digest
– Level of assessment– Uniformity of assessment– Bias in assessments
• Implemented the current digest review process performed by Department of Revenue and Department of Audits
18
Georgia Department of Revenue
2014 Status:
• Approximately 9 counties have not yet submitted their 2014 digest to Revenue Commissioner
• DOR provided the 2014 public utility digest to the county boards of assessors in October– Finalized 2012, 2013 Ga Power Appeals– 2012, 2013 Bellsouth appeals will remain pending
19
Georgia Department of Revenue
Key Players:
1. Chief Appraisers and Appraisal Staff2. County Boards of Assessors3. Governing Authorities4. School Boards5. County Tax Commissioners6. GA Department of Audits and Accounts7. GA Department of Revenue
20
Georgia Department of Revenue
Mass Appraisal is the …
– Process of estimating value for a large group of properties as of a given date, using standard methodology and allowing for statistical testing
– Computer Assisted Mass Appraisal (CAMA) mathematically model appraisal process
21
Georgia Department of Revenue
Appraisal Procedures Manual• O.C.G.A. §48‐5‐269.1• Uniform procedures• Effective October 1999• County Board of Tax Assessors/staff must adhere to standards and procedures
22
Georgia Department of Revenue
Other Appraisal Guidelines…
23
Georgia Department of Revenue
Real property must receive an annual notice of current year assessment
Personal Property receives a notice when corrections or changes have been made
The notice must include an estimate of tax
Notice of Assessment
24
Georgia Department of Revenue
Constitutional elected officer
Duties:– Receive tax returns and applications for homestead exemptions
– Compile annual tax digests and submit to revenue commissioner for review and approval
– Collect tax and pay over the funds collected to the state, county and school
– Place executions in the hands of levying officer
County Tax Commissioner
25
Georgia Department of Revenue
26
Georgia Department of Revenue
27
Georgia Department of Revenue
Tax liens are superior to most other liens and the sheriff has duty and authority to sell property to satisfy
delinquent tax.
Therefore it is imperative that taxpayers receive proper
notifications of assessmentsand that
Appeal procedures are followed precisely
28
Georgia Department of Revenue
29
Georgia Department of Revenue
Responsibilities:– Adopt respective annual budget – Publish 5‐year history and current year digest value and tax rate
– Advertise and hold public hearings regarding tax increase
– Adopt annual millage rate
Governing Authority and School Board
30
Georgia Department of Revenue
31
Georgia Department of Revenue
32
Georgia Department of Revenue
Once the digest is accepted by DOR, data files are forwarded to the
Georgia Department of Audits and Accounts
33
Georgia Department of Revenue
Georgia Department of Audits and Accounts
34
Georgia Department of Revenue
International Association of Assessing Officials
35
Georgia Department of Revenue
DOR uses the sales ratio analysis to measure the quality of the appraisals and assessments and to recommend a uniform assessment rate to be applied
to public utility valuations.
36
Georgia Department of Revenue
• Level of Assessment»36.0 – 44.0
• Uniformity of Assessment»Residential <15»Non residential <20
• Assessment Bias»Between .95 – 1.10
Failure to meet standards could result in penalties
Statistical Standards
37
Georgia Department of Revenue
38
Georgia Department of Revenue
39
Georgia Department of Revenue
Overall assessment level between 38% and 42% ....then utilities assessed at 40%$100 million * 40% * 20 mills = $800,000
Overall assessment level at less than 38%…then utilities assessed at lower level$100 million *37.99% * 20 mills =759,800
‐$40,200
40% assessment rule on Utilities
40
Georgia Department of Revenue
5 mill shareEqualization Grants
The Sales Ratio Study is also used for State school funding
41
Georgia Department of Revenue
Recent special examination regarding school funding….
42
Georgia Department of Revenue
43
Georgia Department of Revenue
4. PUBLIC UTILITY ASSESSMENT
1. Appraise utilities, railroads, & flight equipment ($38 Billion in Value)
2. Assess, collect & disburse tax on rail car companies
3. Receive and disburse TVA payment in lieu of tax
4. Collect and disburse public service commission fees
44
Georgia Department of Revenue
1. Appraise utilities, railroads, flight equipment
o Receive Returnso Appraise Property o Submit values to State Board of Equalization for approval
o Defend Appealso Send assessment notices to county assessors
45
Georgia Department of Revenue
Electric Power Companies (7)
46
Georgia Department of Revenue
Railroads (26)
47
Georgia Department of Revenue
Gas Companies (26)
48
Georgia Department of Revenue
Telecommunication Companies (75)
49
Georgia Department of Revenue
Pipelines (9)
50
Georgia Department of Revenue
Electric Membership Co‐op (50)
51
Georgia Department of Revenue
Flight Equipment Companies (37)
Air TranAmericanDeltaFedExNorthwestUPS
52
Georgia Department of Revenue
2. Assess and Collect Tax on over 200 private rail car companies
o Collection of Tax is based on track miles within each jurisdiction
o Disburse funds to counties and cities
53
Georgia Department of Revenue
3. Disburse TVA Payment in Lieu of Taxo Tennessee Valley Authority
issues monthly payment in lieu of tax to certain north GA jurisdictions.
o DOR receives and disburses funds quarterly
54
Georgia Department of Revenue
4. Collect and Disburse Public Service Commission Feeso $1,050,000o Collected from various regulated public utilities
55
Georgia Department of Revenue
5. GEORGIA CERTIFICATION PROGRAM
• Tax Commissioners• Board of Assessor members• Appraisal Staff• Board of Equalization members• Hearing Officers
56
Georgia Department of Revenue
57
Georgia Department of Revenue
Digest SubmissionCAVEAT SeminarGATO Seminar
Courses of interest to Schools:
58
Georgia Department of Revenue
Ellen Mills, DirectorLocal Government Services Division
Questions?
59