Macon-Bibb County Board Of Tax Assessors 653 Second St., Macon GA 31202 | Phone: (478) 621-6701 | Fax: (478) 621-6737

Personal Property Review/Audit Program

Review

  • The purpose of a review is to determine if a property owner has correctly and fully completed their return and reporting schedules. It is based upon the good faith disclosures of the property owner and information that is readily ascertainable by the appraisal staff. The examination should include a comparison of the current return information with return information from prior years. The appraiser should contact the owner or their agent by an on-site visit, telephone call or written correspondence to attempt to resolve any questionable items. Returns with unresolved discrepancies, unexpected values or incomplete information could be escalated into an audit.
  • Every Personal Property return shall be subject to review. Reviews are also generated based upon a computer program that monitors the percent of change in claimed cost on accounts over $50,000. Pursuant to this program, accounts are subject to review as follows:
    1. $50,000 to $200,000 – 25% change
    2. $200,001 to 500,000 – 15% change
    3. $500,001 and over – 5% change
  • Accounts are subject to a Review for the prior two (2) tax years if significant understatement is discovered in the current year. Significant understatement is unreported inventory or fixed assets (100% depreciated value) exceeding $20,000.
  • Any reviewed return that is found to have overstated the amount of Personal Property subject to taxation will be subject to a reduced assessment for the reviewed tax year and if applicable the two previous years (subject to O.C.G.A. ‘ 48-5-380).

Audit

  • The purpose of an audit is to gather information that will allow the appraiser to make an accurate determination of the fair market value of the property owned by the property owner and subject to taxation. An audit is an examination of the records of the property owner to make an independent determination of the fair market value of such property where such determination does not solely depend upon the good faith disclosures of the property owner and information that is readily ascertainable by the appraisal staff.
  • Accounts are selected for review (i) randomly from unresolved reviews (ii) by computer program; and (iii) by industry. Industry audits are selected each year by the Personal Property Division based upon the NAICS codes. Accounts are generally limited to audit only once every three years unless significant understatement is discovered.
  • Accounts are subject to Audit for the prior two (2) tax years if significant understatement is discovered in the current year. Significant understatement is defined as unreported inventory or fixed assets (100% depreciated value) exceeding $20,000.
  • Any audited return that is found to have overstated the amount of Personal Property subject to taxation will be subject to a reduced assessment for the audited tax year and, if applicable, the two previous years (subject to O.C.G.A. ‘ 48-5-380).