1. If taxpayer name or address has changed or is incorrect, provide correct name and address in the space provided.
2. To avoid a 10% penalty on assets that have not been previously returned, this return must be filed no later than date listed under the due date column
on page one.
3. Taxpayer return value: Georgia Law (O.C.G.A.§ 48-5-6) requires the taxpayer to return property at its fair market value. If the values indicated from
Schedules A, B, or C do not in your opinion reflect fair market value, you may list your opinion here. Attachments must be provided by you listing the
reasons for change.
4. Value from Schedule A, B, & C: Schedules A, B, & C should be completed and the total values from these schedules should be listed in this column.
5. Taxpayers Declaration: This declaration must be signed by the taxpayer or agent and dated in order for this to be a valid return.
INSTRUCTIONS FOR PAGE ONE - BUSINESS PERSONAL PROPERTY TAX RETURN
1. The information requested in the general information section is very important. This area should be completed in detail. The information in this section is
open for public inspection.
2. The information found in the reference information section may be of great interest to the taxpayer. This section contains information about various laws and
exemptions that may be available to the taxpayer.
INSTRUCTIONS FOR PAGE TWO - GENERAL INFORMATION AND IMPORTANT INFORMATION
1. This section provides for the uniform calculation of value for all assets of the business owned on January 1 of this year. Expensed assets as well as
capitalized assets should be listed and valued using indicated schedule. Leasehold improvements personal property in nature and trade fixtures should also
be reported on this schedule. Leasehold improvements such as walls, doors, floor covering, electrical, plumbing, heating and air distribution systems, ceiling
and lighting that are attached to and form an integral part of the building should not be reported as personal property.
2. The indicated basic cost approach value of assets for tax purposes is computed by multiplying the total adjusted original cost new by the composite
conversion factor of each year’s acquisition listed in the appropriate economic life group. Cost amounts are subject to audit. Cost should include installation,
trade-in allowances, sales tax, investment credits, transportation, etc.
3. Internal Revenue Service Publication 946 “How to Depreciate Property” Appendix B - Table of Class Lives and Recovery Periods - column
headed “Class Life in Years”, should be used for determining the economic life group of an asset for Ad Valorem Tax purposes. See
examples of economic life groups listed below. ACRS and MACRS should not be used for determining the economic life of an asset for Ad Valorem Tax
4. Deduct cost of items disposed of or transferred out from the cost of assets acquired during the corresponding year; add cost of items transferred in.
(Disposals include only those items which have been sold, junked, transferred or otherwise no longer located at the business on January 1, this year). List
disposals and items transferred in or out and reasons for disposals or transfer on page 4 under sections three or four.
5. A copy of the most current asset listing indicating the date of acquisition, original cost, and description of each asset should be submitted with this schedule.
If an asset listing is not available please submit a copy of your most current I.R.S. form 4562 Depreciation Schedule and all supplemental schedules utilized
to develop depreciation deduction for A.C.R.S. assets and assets listed under the column headed “Other Depreciation” as well as supplemental depreciation
schedule used for M.A.C.R.S. assets. This information is needed for verification purposes and is not available for public inspection (O.C.G.A.§ 48-5-314).
INSTRUCTIONS FOR PAGE THREE - SCHEDULE A - FURNITURE / FIXTURES / MACHINERY / EQUIPMENT
1. Inventory should be reported at 100% cost on January 1, this year. Cost should include, but not be limited to, freight in, overhead or burden, Federal, State,
or Local Taxes, or any other charges imposed upon the item that makes it more valuable to the owner. Costs will be arrived at by converting anything other
than current cost back to cost. “LIFO” is not acceptable.
2. The name and address of the legal owner of any consigned goods or any other type goods not owned by you and not reported under Schedule B should be
listed under Section 1, Consigned Goods. This will insure that the taxes are charged to the legal owner.
3. Schedule C - Construction in Progress - if you had any unallocated cost for Construction in Progress, which is personal property in nature, that was not
reported under Schedule A it should be reported under Schedule C. A description of the property, year acquired, useful life in years, and total cost should be
4. If you had in your possession on January 1 any leased or rented equipment, machinery, furniture, fixtures, tools, vending machines, or other types of property,
the legal owners name and address should be listed under Section 2 headed Leased or Rented Equipment. This will insure that the taxes are charged to the
INSTRUCTIONS FOR PAGE FOUR - BUSINESS PERSONAL PROPERTY SCHEDULE B - INVENTORY
NOTE: Schedules A, B, and C and all documents furnished by the taxpayer are considered confidential and not open to public inspection. O.C.G.A.,§ 48-5-314.
Returns are public information.
DEPRECIATION GROUPING EXAMPLES
) Copiers, Duplicating Equip., Typewriters
02) Calculators, Adding and Accounting Machines
03) Electronic Instrumentation Mfg.
04) Construction Equipment
05) Timber Cutting Equipment
06) Mfg. of Electronic Components & Products
07) Radio and T.V. Broadcasting Equipment
08) Drilling of Oil and Gas Wells
09) Temporary Sawmills
10) Any Semiconductor Mfg. Equipment
11) Telegraph and Satellite Communications
12) Vending Equipment, Coin Operated
13) Rental Appliances and Televisions
14) Hand Tools
15) Nuclear Fuel Assemblies
16) Fishing Equipment
17) Cattle, Breeding, or Dairy Equipment
GROUP 1: ECONOMIC LIFE OF 5-7 YEARS
01) Office Furniture, Fixtures and Equipment
02) Agriculture Machinery and Equipment
03) Recreation or Entertainment Services
04) Mining and Quarrying
05) Mfg. of Textile Products
06) Mfg. of Wood Products and Furniture
07) Permanent Sawmills
08) Mfg. of Chemicals and Allied Products
09) Mfg. of finished Plastics Products
10) Mfg. of Leather and Leather Products
11) Mfg. of Electrical and Non-electrical Machinery
12) Mfg. of Athletic, Jewelry and Other Goods
13) Retail Trades Furniture, Fixtures and Equipment
14) Restaurant and Bar Equipment
15) Hotel and Motel Furnishing and Equipment
16) Automobile Repair and Shop Equipment
17) Personal and Professional Services
GROUP 2: ECONOMIC LIFE OF 8-12 YEARS
01) Petroleum Refining Equipment
02) Grain and Grain Mill Products (Mfg.)
03) Mfg. of Sugar and Sugar Products
04) Mfg. of Vegetable Oils and Products
05) Mfg. of Tobacco and Tobacco Products
06) Mfg. of Pulp and Paper
07) Mfg. of Rubber Products
08) Mfg. of Cement
09) Mfg. of Stone and Clay Products
10) Mfg. of Primary Nonferrous Metals
11) Mfg. of Foundry Products
12) Mfg. of Primary Steel Mill Products
13) Tanks and Storage
15) Radio/T.V. Antennas and Towers
16) Cold Storage and Ice Making Equipment
17) Mfg. of Glass Products
GROUP 3: ECONOMIC LIFE OF 13 YEARS OR MORE
1) Computers - Non Production
02) Peripheral Computer Equipment
03) Jigs, Dies, Molds, Patterns
04) Special Tools and Gauges
05) Returnable Containers
06) Special Transfer and Shipping Devices
08) Rental Movies
09) Card Readers
10) High Speed Printers
11) Data Entry Devices
14) Terminals, Tape Drives, Disc Drives
15) Magnetic Tape Feeds
16) Optical Character Readers
GROUP 4: ECONOMIC LIFE OF 1-4 YEARS
ALSO ASSET CLASS 00.12 IRS PUBLICATION 94