The Local Option Sales Tax (LOST) law requires counties and “qualified cities” receiving general purpose LOST revenue to renegotiate distribution agreements within two years of each decennial census.
The Special Council on Tax Reform and Fairness for Georgians has released its final report on Friday, January 7, 2011. ACCG has developed an analysis and summary of recommendations that pertain to county revenues or that are related to an ACCG policy position.
The Georgia Department of Audits uses an annual Sales Ratio Study to measure compliance with the state requirement for counties to maintain an equalized tax digest for state education funding. This study was released last month. It is important for all counties to review their ratio and understand the impact it may have on the county’s budget. Counties also have up to 30 days to appeal their ratio if they feel it is not accurate.
A recently released report developed by the Tax Foundation, State-Local Tax Burdens Fall in 2009 as Tax Revenues Shrink Faster than Income, ranks Georgia among the lower half of states based on an analysis of several factors related to the payment of state and local taxes.
State law requires all counties and cities to follow a specified procedure in adopting a budget to ensure that local taxpayers have the opportunity to learn how their money is proposed to be spent.
Counties and qualified cities receiving general purpose LOST revenue must renegotiate distribution agreements within two years of each decennial census. This means that renegotiation must begin on or before July 1, 2012.
A new National Association of Counties (NACo) survey shows that counties large and small appear to be settling into the "new normal" of revenue, staffing and service delivery levels after years of revenue losses in a U.S. economy struggling toward recovery.
The Department of Revenue (DOR) has implemented a new integreated tax system which is significantly reducing the unidentified sales and use tax payments.
The Georgia Department of Audits and Accounts has released the Georgia Tax Expenditure Report for 2012. This report was developed by the Georgia State University Fiscal Research Center for inclusion in the Governor's Budget Report as required by Georgia Code §45-12-75.
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The Department of Revenue has launched a new Sales Tax Distribution Report on its website that will allow every local jurisdiction (county, city, school system) the ability to identify its monthly sales tax distribution amount from January 1999 to the present, Commissioner Bart L. Graham announced today.
SPLOST is an optional one percent county sales tax used to fund capital outlay projects proposed by the county government and participating qualifed municipal governments.
Legislation passed in 2010 (SB 346) made significant changes to Georgia’s property tax laws that counties must implement this year. Elected officials and county management staff are likely to receive questions from taxpayers about these changes and need to be knowledgeable.
The Carl Vinson Institute of Government (CVIOG) financial management training program has produced a new video tutorial called Setting the Millage Rate: It's Not a Mystery! Running just over five minutes, the video helps viewers understand millage rates and how to calculate them.
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