Upson County offers Freeport Exemptions for Class 1, Class 2, and Class 3 commercial and industrial inventory at 100% for each class.
The governing authority of any county or municipality may, subject to the approval of the electors of such political subdivision, except from ad valorem taxation, including all such taxes levied for educational purposes and for State purposes, all or any of the following types of tangible property. Application for this exemption must be made each year by April 1 in order to receive the maximum exemption on the qualifying Inventory.
1. Inventory of goods in the process of manufacture or production, which shall include all partly finished goods and raw materials, held for direct use or consumption in the ordinary course of the taxpayer’s manufacturing or production business in the State of Georgia.
2. Inventory of finished goods manufactured or produced within the State of Georgia in the ordinary course of the taxpayer’s manufacturing or production business when held by the original manufacturer or producer of such finished goods. The exemption provided for herein shall be for a period not exceeding twelve (12) months from the date such property is produced or manufactured.
3. Inventory of finished goods which, on the first day of January, are stored in a warehouse, dock, or wharf, whether public or private, and which are destined for shipment to a final destination outside the State of Georgia and inventory of finished goods which are shipped into the State of Georgia from outside the State and stored for transshipment to a final destination outside this State. The exemption provided for herein shall be for a period not exceeding twelve (12) months from the date such property is stored in this State.
For further details on Freeport exemption, read O.C.G.A. 48-5-48.2 in its entirety or contact the Tax Assessors office.
The TUCIDA has issued over $276 million in revenue bonds for our industries. Our community offers some of the most aggressive local incentives available in Georgia for businesses that create new jobs and investments. The TUCIDA, in cooperation with the Upson County Board of Tax Assessors, may develop a revised tax schedule for new real and personal property for qualifying projects.
The TUCIDA realizes that industries do not live by a “one size fits all” rule, and we will assess the overall economic impact of each project to determine additional incentives. Such incentives may range from requests for state grant assistance, discounted site costs for publicly owned industrial sites, and other areas of consideration identified by prospects during the site selection process.
*Both these sites are located in a Less Developed Census Tract (making it available for a $3,500 job tax credit per employee for five years)
**** Tax credits are applied to Georgia corporate income taxes