Recording, Payment, and Certification Where Encumbered Real Property Located in More Than One County or Located Within and Outside State

  1. Law
  2. Georgia Code
  3. Revenue and Taxation
  4. Taxation of Intangibles
  5. Intangible Recording Tax
  6. Recording, Payment, and Certification Where Encumbered Real Property Located in More Than One County or Located Within and Outside State

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  1. If any instrument required to be recorded by this article conveys, encumbers, or creates a lien upon real property located in more than one county, the tax imposed by this article shall be prorated among all applicable counties; and the amount paid to the collecting officer of each county 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 instrument 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 or comparable assessing entity in any affected state. All such values shall be disclosed on the face of the instrument or, alternatively, may be submitted in the form of an affidavit by the holder presenting the instrument for recording. The original or a duplicate original executed copy or counterpart of such instrument shall be presented for recording in all counties in which the real property is located, and the collecting officer 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 48-6-61 and enter the same upon the security instrument.
  2. If any instrument conveying, encumbering, or creating a lien on real property located within and outside this state as security for a long-term note is held by a nonresident of this state when presented for recording pursuant to this article, the tax required by this article shall be that proportion of the tax which would otherwise be required under this article that the value of the real property within this state bears to the total value of all the real property within and outside this state as described in the instrument. All such values shall be certified under oath by the holder presenting the instrument for recording.

(Ga. L. 1953, Nov.-Dec. Sess., p. 379, § 9; Ga. L. 1955, p. 288, § 4; Code 1933, § 91A-3207, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1990, p. 1843, § 4; Ga. L. 1994, p. 1767, § 4; Ga. L. 2010, p. 528, § 1/HB 1191.)

OPINIONS OF THE ATTORNEY GENERAL

Section applicable to long-term notes.

- Statute would be applicable in determining the amount of tax due by the holder of a long-term note. 1954-56 Op. Att'y Gen. p. 801.

RESEARCH REFERENCES

C.J.S.

- 85 C.J.S., Taxation, § 1823.


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