On March 1, 2013, a new
method of taxation for certain motor vehicles in Georgia will go into effect,
according to Georgia House Bill 386. This vehicle tax, the TAVT, will replace
the state sales, use, and annual ad valorem taxes with a one-time tax imposed
on the fair market value of each vehicle.
Owners who purchased motor
vehicles on or after March 1, 2013 and titled them in Georgia will be eligible
to pay this tax. However, if a vehicle was purchased between January 1, 2012
and March 1, 2013 and titled in Georgia, the owner is also eligible to opt in to
the new system and pay the TAVT.
Please note that this new tax will not apply
to:
·
Corrected
titles
·
Replacement
titles
·
Titles
issued to the same owner
·
Vehicles
acquired by veterans who would receive an exemption from the ad valorem tax
To learn more, visit the
Georgia Department of Revenue at http://onlinemvd.dor.ga.gov/Tap/faqs.aspx.
