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Homestead exemptions are filed in the tax assessor's office in lieu of the tax commissioners office. Documentation of ownership is required. Verification of income is required for elderly exemptions. Call the tax assessors office at (706) 517-1400 ext. 2 for full details. Regular homestead exemptions may be filed online, but due to income verification you will need to come into the office or mail in elderly exemptions. A homestead freeze exemption is available after having a homestead for one year. Apply for the freeze in the office.
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Other manufactured homes, such as rental units, will purchase a decal / sticker between January 1 and May 1 each year.
All manufactured homes are valued using the NADA Valuation Book unless the taxpayer files a return and meets the requirements to put the home on as a permanent structure.
The intent of code section 48-5-42.1 Personal Property Tax Exemption for Property Valued at $7,500 or Less, is to exempt from the payment of ad valorem taxation certain tangible personal property in which the tax due does not exceed the reasonable cost of administering and collecting the tax. All tangible personal property of a taxpayer, except motor vehicles, trailers, and mobile homes, shall be exempt from all ad valorem taxation if the actual fair market value of the total amount of taxable tangible personal property owned by the taxpayer within the county, as determined by the board of tax assessors, does not exceed $7,500.
For example, one-story houses may be in more demand than two-story houses or vice versa. Older homes in the same area may be rising in value more slowly than newer homes. Among the numerous factors to be considered that will cause values to differ are location, condition, size, quality, number of baths, a finished or unfinished basement, garages, and many others. However, higher assessments do not necessarily translate into higher taxes.
For a sale to be a market value (arm's length) sale, the seller and buyer must be unrelated. The seller must be willing (but not under pressure) to buy. The property must be on the market for a reasonable length of time. The payment must be in cash or its equivalent, and the financing must be typical for that type of property.
For commercial type rental properties, the income and expenses could be considered.
Examples of typical items that may increase the assessed value of your property include adding rooms or a garage, brick or vinyl siding, substantial modernization of kitchens or baths, central air conditioning, fireplaces, or extensive remodeling.
The property tax is part of a well-balanced revenue system. It is a more stable source of money than sales and income taxes because it does not fluctuate when communities have economic recessions.
As Murray County governments continue to upgrade schools, public safety, infrastructure improvements, and quality of life, your property values rise. Some of the windfall benefits you receive are recaptured by the property tax.