Why Barnesville-Lamar County, Georgia?
Site consultants and companies consistently rank Georgia as the No.1 state for new business for 10 years in a row!
The state’s global access, logistics network, work force, and attractive business incentives add savings to an already low cost of doing business in Georgia. Barnesville-Lamar County provides that logistics network, workforce pipeline and competitive incentives for new or expanding businesses.
Local Tax Incentives:
Lamar County, Georgia has a long manufacturing history and a stable business environment. This community offers attractive incentives to new and existing businesses who have exhibited a commitment to the community. Incentives are considered and generally based on net new jobs and capital investment.
Let us prepare a confidential proposal for your business expansion or location to Barnesville/Lamar County.
Contact kathy.oxford [at] cityofbarnesville.com (subject: Confidential%20Proposal%20Requested) (Kathy Oxford), Executive Director, or call +1 (770) 872-3773
Georgia's Corporate Income Tax
Georgia's Corporate Income Tax rate of 6% is a "Single Factor Gross Receipts" apportionment formula which results in a substantial savings in Georgia income taxes for companies that manufacture products within the state of Georgia and sell those products or services to customers in other states. This is designed to encourage manufacturing, distribution and service companies to invest or expand in Georgia. There are numerous credits for quality jobs created, specific industry credits and more.
To view the Incentives click here
Georgia Business Tax Incentives for Job Creation and Investment
For a full explanation of Georgia’s Business Tax Incentives, qualification for and examples, take a look at the video above. For the 2024 calendar year, Lamar County is a Tier 3 County. These are state level statutory incentives and available to qualified businesses. Go to this link for details.
Property Tax Rates for Lamar County
To estimate taxes for your location, use this link.
The following rates apply to all real and personal property owned by individuals and corporations, and are specific to the taxing jurisdiction.
- City of Barnesville: 40% of Fair Market Value (FMV) 35.371 mills per $1,000 of assessed value
- Lamar County (Unincorporated areas): 40% of FMV 31.657 mills
- City of Milner: 40% of FMV 33.93 mills
Inventory Tax Exemption (Freeport)
100% Freeport Tax Exemption (ad valorem) with required annual filing for the following classes of inventory:
- Raw materials and goods in process of manufacture
- Finished goods held by the manufacturer
- Finished goods destined for shipment out-of-state.
Industrial Revenue Bond (IRB) Financing
Tax exempt bond financing is available for companies seeking to finance the purchase of land, buildings and equipment for eligible manufacturing projects. Rates for tax-exempt bonds are market-based and established on the credit and strength of the individual company and projects.
Sales and Use Tax and Exemptions
Lamar County and State of Georgia Sales Tax total 8%. Georgia Law provides a 100% sales and use tax exemption for qualified purchases including:
- Manufacturing Machinery & Equipment Purchase & Repair
- Raw Materials & Packaging
- Energy used in Manufacturing
- Primary Material Handling Equipment
- Pollution Control Equipment
If you have questions about Georgia business tax specifics, email kathy.oxford [at] cityofbarnesville.com (subject: Sales%20Tax%20information) (Kathy Oxford), or call 770-872-3773 for more information. Additional assistance is available for qualified businesses.
General Information
Ad valorem tax, more commonly known as property tax, is a large source of revenue for governments in Georgia. The basis for ad valorem taxation is the fair market value of the property, which is established January 1st of each year. The tax is levied on the assessed value of the property which, by law, is established at 40% of the 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).
Several distinct entities are involved in the ad valorem tax process:
The County Tax Commissioner, an office established by the Constitution and elected in Lamar County, is the official responsible for receiving tax returns filed by taxpayers; receiving and processing applications for homestead exemptions; serving as agent of the State Revenue Commissioner for the registration of motor vehicles; and performing all functions related to billing, collecting, disbursing, and accounting for ad valorem taxes collected in the county. In Lamar County, the tax assessors have been lawfully delegated with receiving tax returns.
The County Board of Tax Assessors, appointed for fixed terms by the county commissioner(s), is responsible for determining taxability, value and equalization of all assessments within the county. The County Board of Tax Assessors notifies taxpayers when changes are made to the value of the property; receive and review all appeals filed; and insures that the appeal process proceeds properly. In addition, they approve all exemptions claimed by the taxpayer.
The County Board of Equalization, appointed by the Grand Jury, is the body charged by law with hearing and adjudicating administrative appeals to property values and assessments made by the board of tax assessors (Note: An arbitration method of appeal is available to the taxpayer in lieu of an appeal to the board of equalization at the option of the taxpayer at the time the appeal is filed).
The Board of County Commissioners, an elected body, establishes the budget for the county government operations each year, and levies the mill rate necessary to fund the portions of the budget to be paid for by ad valorem tax.
The County Board of Education, an elected body, establishes the annual budget for school purposes and then recommends their mill rate, which, with very few exceptions, must be levied for the school board by the county commissioner(s).
The State Revenue Commissioner exercises general oversight of the entire ad valorem tax process. In addition, the State levies ad valorem tax each year in an amount, which cannot exceed one-fourth of one mill (.00025).For additional information:
http://dor.georgia.gov/
TAX RETURNS
Particularly important for Business owners, taxpayers are required to file at least an initial tax return for taxable property (both real and personal property) owned on January 1 of the tax year. In Lamar County, the time for filing returns is January 1 through April 1. These returns are filed with the Tax Assessors office and forms are available in that office. The tax return is a listing of property owned by the taxpayer and the taxpayer's declaration of the value of the property.
Once the initial tax return is filed, the law provides for an automatic renewal of that return each succeeding year at the value finally determined for the preceding year. The taxpayer is required to file a new return only as additional property is acquired, improvements are made to existing property, or other changes occur. A new return, filed during the return period, may also be made by the taxpayer to declare a different value from the existing value where the taxpayer is dissatisfied with the current value placed on the property by the Board of Tax Assessors. This serves the purpose of establishing the taxpayer's appeal rights if the Board of Tax Assessors change the declared value again.
