Bill Text: GA HB1192 | 2009-2010 | Regular Session | Comm Sub

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Bill Title: Real estate transfer tax; property in more than one county; change provisions

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2010-07-01 - Effective Date [HB1192 Detail]

Download: Georgia-2009-HB1192-Comm_Sub.html

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10 LC 18 9092S

House Bill 1192 (COMMITTEE SUBSTITUTE)

By: Representative O`Neal of the 146th

A BILL TO BE ENTITLED
AN ACT

To amend Code Section 48-6-4 of the Official Code of Georgia Annotated, relating to recording of instruments and payments of real estate transfer tax, so as to change certain provisions relating to payment and distribution of the real estate transfer tax when property is located in more than one county; to provide for related matters; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Code Section 48-6-4 of the Official Code of Georgia Annotated, relating to recording of instruments and payments of real estate transfer tax, is amended by revising subsection (e) as follows:

"(e) The certificate entered upon or attached physically or electronically to the deed, instrument, or other writing shall be recorded with the deed, instrument, or other writing and shall be in the physical or electronic form required by the commissioner. In each case, however, the certificate shall bear the signature of the clerk or his or her deputy. The certificate may be relied upon by subsequent purchasers or lenders as evidence that the proper tax has been paid. In the event any deed, instrument, or other writing upon which tax is imposed by this article is required to be recorded in more than one county, the required tax shall be prorated among all applicable counties and the amount paid to the clerk or his or her deputy of the county in which the deed, instrument, or other writing is first recorded shall be that proportion of the total tax due calculated by applying the ratio of the value of the real property in such county as it bears to the total value of the real properties in all counties described in the deed, instrument, or other writing to the total tax due. Such proportions shall be calculated pursuant to the most recently determined fair market valuations of the property as determined by the county board of tax assessors. All such values shall be disclosed on the face of the deed, instrument, or other writing or, alternatively, may be submitted in the form of an affidavit by the holder presenting the deed, instrument, or other writing for recording. The original or a duplicate original executed copy or counterpart of such deed, instrument, or other writing shall be presented for recording in all counties in which the real property is located, and the clerk or the clerk's deputy of each county may rely upon the sworn original or a duplicate original certification of values in determining the amount of tax due and payable in that county and collect such portion of the tax imposed by Code Section 48-6-1 and enter the same upon the deed, instrument, or other writing."

SECTION 2.

All laws and parts of laws in conflict with this Act are repealed.