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Georgia Law requires that all tangible personal property be appraised annually at its fair market value.

The Hall County Assessors Office Staff utilizes a computer assisted appraisal system to store data and calculate marine, aircraft and business personal property values for assessment purposes. The system is capable of processing cost data and producing appraised values.

Georgia statutes and regulations require that all aircraft, boats, and tangible business personal property (furniture, fixtures, equipment, inventory, applicable leasehold improvements, etc.) be reported annually. Business personal property used or located in Hall County should be reported on a Business Personal Property Tax Return. Click here to download a form. Statutes require that a value be determined even if the owner fails to file a Business Personal Property Tax Return or a return of value. Failure to file timely subjects the owner to possible penalties and loss of exemptions, if applicable.

A Freeport Exemption for manufactured goods and items destined for shipment to a final destination outside the State of Georgia is available. This exemption requires an annual timely application to receive full or partial benefits. Freeport is separated into three categories:

1. Raw Materials and Goods in Process
2. Finished Goods
3. Out of State Shipments

Boats and Aircraft are appraised annually at fair market value by utilizing the sales (pricing guide) comparison approach. The sales comparison approach uses the sales of comparable properties to estimate the value of the subject property being appraised. The Georgia Appraisal Procedures Manual lists the following information applicable to this type property.

The appraisal staff should make a reasonable effort to obtain and use generally accepted pricing guides that are published and widely used within the market. When using such a guide to estimate the comparative sales approach value, the appraiser shall begin with the listed retail price and then make any value adjustments as provided in the guide instructions, based on the best information available about the subject property being appraised.

In accordance with Code section 48-5-16 (d), the appraisal staff shall consider the tax situs of a boat to be the tax district wherein lies the domicile of the owner, even when the boat is located within another tax district in the county. When the boat is functionally located for recreational or convenience purposes for 184 days or more in a county other than where the owner is domiciled, the appraisal staff shall consider the tax situs of the boat to be where it is functionally located.

In accordance with Code section 48-5-16 (e), the appraisal staff shall consider the tax situs of an aircraft to be the tax district wherein lies the domicile of the owner, even when the aircraft is located within another tax district in the county. When the aircraft's primary home base is in a county other than where the owner is domiciled, the appraisal staff shall consider the tax situs of the aircraft to be where it is principally hangared or tied down and out of which its flights normally originate.