JONESBORO — A freeport tax exemption proposal will go before Clayton County voters in November.
The Clayton County Board of Commissioners voted 4-0-1 to authorize a referendum to let voters decide if the county’s Level 1 freeport tax exemption should be reduced from 100% to 80%.
The referendum will be on ballots Nov. 7, 2023.
Jeffrey Turner, Alieka Anderson, Gail Hambrick, and DeMont Davis voted for the measure while Felicia Franklin abstained because she said she had a lack of information.
She also questioned whether a study had been done on reducing it to 80% and was told by County Attorney Charles Reed that a study had not been done.
According to Georgia law, counties and or municipalities may elect, with the approval of the voters, to exempt the following types of tangible personal property:
— Inventory of goods in the process of being manufactured or produced — including raw materials and partly-finished goods.
— Inventory of finished goods manufactured or produced within the state held by the manufacturer or producer for a period not to exceed 12 months.
— Inventory of finished goods on Jan. 1 that are stored in a warehouse, dock, or wharf which are destined for shipment outside the state for a period not to exceed 12 months.
— Stock in trade of a fulfillment center which on Jan. 1 are stored in the fulfillment center.
The percentage of exemption can be set at 20, 40, 60, 80 or 100% of the inventory value.
More than 60% of Georgia counties and cities have adopted the freeport exemption at some level.
Application for freeport exemption should be made with the Board of Tax Assessors within the same time period that returns are due in the county. Applications filed after that time can receive a partial exemption for that year up to June 1.
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