The "sale" of standing timber as defined by O.C.G.A. 48-5-7.5 is the
"arm's length, bona fide sale of standing timber for harvesting separate and
apart from the underlying land and shall not include the simultaneous sale of a
tract of land and the timber thereon."
Lump Sum Sales: This report must be completed by purchaser. The seller must remit
to the purchaser, at the time of sale, a negotiable instrument for the taxes due.
The purchaser must remit the taxes and this form to the Tax Commissioner within
5 business days of purchase. The purchaser must also give a copy of this form to
the Board of Tax Assessors at the time of remittance. The purchaser is personally
liable for the tax if it is not paid by the seller. Seller and Purchaser must sign
Unit Price Quarterly Report: Purchaser must complete, sign and submit two copies
to seller and one copy to Board of Tax Assessors within 45 days after end of quarter.
Seller must sign and submit one of the copies to Tax Assessors within 60 days after
end of quarter. Seller will be billed by the Tax Commissioner for taxes due.
Owner Harvest: Owner must complete and submit one copy to Board of Tax Assessors
within 45 days after the end of the quarter. Ad Valorem taxes shall be paid by the
landowner as provided in subsection (h) of O.C.G.A. 48-5- 7.5 (h) and shall be calculated
by multiplying the 100 percent fair market value of the timber times the millage
rate applicable for the previous calendar year.
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about timber assessment.