Georgia Code
Part 1 - Homestead Option Sales and Use Tax
§ 48-8-104. Exclusive Administration of Tax by Commissioner; Identification of Location Where Tax Collected; Manner of Disbursement of Proceeds

If the tax commissioner and the governing authority of the county fail to provide such certification on or before July 1, the commissioner shall not distribute to such county any additional proceeds of the sales and use tax collected after July 1 unless and until such certification is provided.
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The commissioner shall calculate each qualified municipality’s share of such remaining amount by dividing the net homestead digest for each qualified municipality by the total homestead digest for all municipalities.
First, calculate the homestead factor in accordance with division (c)(2)(B)(i) of this Code section as follows: (A) Capital factor certified by county as required by subsection (d) of this Code section 0.150 (B) Net amount of sales and use tax collected in the special district pursuant to this part for the previous calendar year $50 million (C) Taxes levied for county purposes on only that portion of the county tax digest that represents net assessments on qualified homestead property after all other homestead exemptions have been applied $100 million (D) Calculation of homestead factor using figures above = [(1-.0150)($50 million/$100 million)] .425 Next, calculate the equalization amount in accordance with paragraph (1) of this subsection as follows: (E) Unincorporated county millage rate 15.0 mills (F) Minus the incorporated county millage rate for qualified municipality ‘‘Y’’ (10.0 mills) Difference: = 5.0 mills (G) Times homestead factor (calculated above) x .425 (H) Equals the equalization millage: = 2.125 mills (I) Times net homestead digest for qualified municipality ‘‘Y’’ $200 million (J) Equals the equalization amount payable to municipality ‘‘Y’’ $425,000.00
History. Code 1981, § 48-8-104 , enacted by Ga. L. 1995, p. 655, § 1; Ga. L. 1997, p. 1, § 4; Ga. L. 2007, p. 309, § 7/HB 219; Ga. L. 2007, p. 598, § 3/HB 264; Ga. L. 2009, p. 8, § 48/SB 46; Ga. L. 2010, p. 662, § 23/HB 1221; Ga. L. 2015, p. 217, § 2/HB 215.

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