| |
Taxes
|
Millage Rate
|
18.501
|
|
Local Sales Tax
|
3 %
|
|
State Sales Tax
|
4 %
|
|
Freeport Tax Exemption
|
100 %
|
|
Job Tax Credit
|
$3,000
|
|
Investment Tax Credit
|
5%
|
Dublin-Laurens
County Tax Information
1. Location:
A. Property tax rates-current rates for real property, tangible
personal property, and inventories (raw materials, goods-in-process,
finished goods).
Ad valorem tax,
more commonly known as property tax, is a large source of
revenue for local governments in Georgia. The basis for ad
valorem taxation is the fair market value of the property,
which is established as of January 1 of each year. The tax
is levied on the assessed value of the property that, by law,
is established at 40% of fair market value. The amount of
tax is determined by the tax rate (mill rate) levied by various
entities (one mill is equal to $1.00 for each $1,000 of assessed
value, or .001).
For example: If an industry locates
in the county, the breakdown on millage rates are as follows:
| Laurens County Maintenance and Operation
= |
6.306 mills |
| Laurens County School System = |
11.945 mills |
| Total = |
18.501 mills |
| Assessed value would be 40%. |
Example:
| Property Market Value = |
$100,000.00 |
| 40% of Market Value or Assessed Value
= |
$ 40,000.00 |
| Tax on $40,000 X 18.501 M = |
$ 740.04 |
| Total Tax = |
$ 740.04 |
If an industry locates in the city, the breakdown on millage
rates are as follows:
| City of Dublin Maintenance and Operation
= |
5.2 mills |
| Dublin City School System = |
16.277 mills |
| Total = |
21.477 mills |
| Assessed value would be 47% |
|
| Plus County Maintenance and Operation = |
6.306 mills* |
| Total = |
27.77 mills |
*Assessed value would be 40% for the County
Example:
| Property Market Value = |
$100,000.00 |
| 47% of Market Value or Assessed Value
= |
$ 47,000.00 |
| Tax on $47,000 X
21.477 M = |
$ 1009.42 |
| Sub Total = |
$ 1009.42 |
Plus (County Maintenance and
Operation multiplied times 40% market value or assessed
value)
Best Job Tax Credits
Beginning 2001
Summary to Changes to Georgia's Existing
Job Tax Credit Program Due to HB 1509*
Regular County Program
| |
Tier 1
|
Tier 2
|
Tier 3
|
Tier 4
|
| Counties--(See note #1.)
|
71
|
35
|
35
|
18
|
| Tax credit per new job
|
$3,500
|
$2,500
|
$1,250
|
$750
|
| Job creation requirements
|
5
|
10
|
15
|
25
|
| New job average wage requirements
|
Above average wage
of county
|
At least 5% above average
wage of county
|
At least 10% above
average wage of county
|
At least 15% above
average wage of county
|
| Health insurance to be
made available |
Yes
|
Yes
|
Yes
|
Yes
|
| Limits on use of job tax
credit against income tax liability |
|
100%
|
|
|
| Income tax withholding--(See
note #2). |
Yes
|
|
|
|
| Joint Development Authority
bonus |
$500
|
$500
|
$500
|
$500
|
Port Authority
Bonus |
$500
|
$500
|
$500
|
$500
|
|
*Note 1 Counties will be ranked each year, prior
to December 31, using the following criteria: A) highest
unemployment rate for the most recent 36 month period;
B) lowest per capita income for the most recent 36 month
period; and C) highest percentage of residents whose
incomes are below the poverty level. Tier 1 counties
are most economically distressed.
*Note 2 This provision, available in Tier 1
counties, will allow companies that are unable to use
all their credits against income tax liability to also
use credits against payroll taxes withheld from new
employees.
|
"Other tax exemptions available under
the GA Business
Expansion and Support Act."
|
