The commissioner upon his own motion or upon the written request of one or more holders of instruments securing notes secured by real property shall render publicly and in writing his determination of whether the intangible recording tax provided in this article is payable with respect to a particularly described real property instrument or class of real property instruments or modifications of such instruments. The determination may be in the form of administrative regulations if applicable to a class of real property instruments. A copy of all such determinations shall be retained in the files of the department as a permanent and public record. Nonpayment of the tax provided for in this article, with respect to a real property instrument filed for record, in reliance upon a determination rendered by the commissioner pursuant to this Code section shall not constitute a bar, as provided in Code Section 48-6-77, to the collection of the indebtedness secured by any such instrument.
(Ga. L. 1973, p. 271, § 3; Ga. L. 1976, p. 405, § 5; Ga. L. 1977, p. 635, § 4; Code 1933, § 91A-3210, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1990, p. 1843, § 4.)
OPINIONS OF THE ATTORNEY GENERAL
How determinations to be made.
- State revenue commissioner is not limited to the face of the security deed in considering determination requests under this statute, and such determinations may be in the form of administrative regulations if applicable to a class of real estate instruments. 1980 Op. Att'y Gen. No. 80-141.
Intangible property tax on long-term notes secured by real estate is not unconstitutional. 1970 Op. Att'y Gen. No. 70-56.
RESEARCH REFERENCES
C.J.S.
- 85 C.J.S., Taxation, § 1813 et seq.