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Audit Questions & Answers

TBS implemented a "Questions & Answers" section in order to build a personal property audit library. If you have a personal property audit question please click "View Previous Questions & Answers" below. If you do not find the answer to your question, please click the "Ask a New Question" link and email us your question. Please include your name, county, email address and day-time phone number. We will reply to your question via email and post the response for others to reference.

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Most Recent Question and Answer

Question #22:

One of the larger manufacturing companies in our county wants our Board of Assessors to consider granting them a lower valuation on their personal property equipment. They say the recession has caused them to lose money, and lower production - (Economic Obsolescence). Is there a way under the Georgia code to legally allow for such a valuation reduction?

Answer #22:

Yes. Under the Official Code of Georgia and at the direction of the Georgia Appraisal Procedure Manual, if requested by the tax payer, additional depreciation on personal property equipment valuation reduction shall be considered. You can learn about Economic Obsolescence and “how to do it” from the following presentation made to the GAAO by Chuck Vrshek at Macon State College on August 10, 2011 in Macon, Georgia. To view the Economic Obsolescence presentation, please Click Here

Best Regards, TBS

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