Compilation of Rules and Regulations of the State of Georgia › Department 560 - RULES OF DEPARTMENT OF REVENUE › Chapter 560-11 - LOCAL GOVERNMENT SERVICES DIVISION › Subject 560-11-2 - SUBSTANTIVE REGULATIONS › Rule 560-11-2-.16 - Real Estate Transfer Tax-Filing Declaration Forms

Current through Rules and Regulations filed through June 27, 2024
(1) Except as provided for in paragraph (2)
				of this rule, any deed, instrument or other writing which conveys any lands,
				tenements, or other realty must be accompanied by Form PT-61 (1 original and 3
				copies). Said form shall be properly completed and signed by the seller or his
				authorized agent and by the buyer or his authorized agent, prior to such
				instrument being presented to the Clerk of Superior Court for recording. As
				used herein,"properly completed" shall be deemed to include the following TYPED
				or LEGIBLY PRINTED information:
(a) Seller's
				Information - The form shall contain the complete name, street mailing address,
				city, state and zip code of the seller and the month, day and year the sale
				occurred.
(b) Buyer's Information -
				The form shall contain complete name, street mailing address, city, state zip
				code of the buyer for the purpose of receiving tax notices and billings. The
				intended use of the property by the buyer at the time of the transfer shall be
				listed and designated as being residential (R), agricultural (A), commercial
				(C), or industrial (I).
(c)
				Property Information - The complete description of the property being conveyed,
				the county name where the property is located shall be listed and the city name
				(if the property lies within the limits of a city). The number of acres of
				property, map and parcel number, district, land lot and sublot and block shall
				be shown.
(d) Value and Tax
				Information - The actual value of the consideration received by the seller for
				the real and personal property conveyed to the buyer shall be shown separately
				on the form(PT-61) prescribed in subsection (c) of Code section
				 48-6-4.
				This consideration total should reflect all cash, other property or goods, and
				the assumption of mortgages or other obligations. If the actual value of the
				consideration is not known, the estimated fair market value of real and
				personal property conveyed should be shown, separately, along with an estimate
				of the value of the personal property conveyed. The amount of any lien or
				encumbrance prior to the transfer and not removed thereby shall be shown.
1. The actual consideration or the fair
				market value, if the actual consideration is not readily determinable, of the
				real property conveyed less any liens or encumbrances existing prior to the
				sale and not removed by the sale shall be the basis upon which the tax is
				computed. The phrase "ten dollars and other valuable consideration" or other
				similar phrases are not proper disclosures of consideration. This basis shall
				be shown along with the tax due.
2.
				The actual consideration of personal property conveyed shall be shown
				separately on the form and may be deducted from the basis upon which the tax is
				computed if the estimate of personal property is accompanied by appropriate
				evidence of its accuracy.
(e) Other Information - Any other information
				requested on the most current version of form PT-61 shall be listed.
(f) Certification - The seller or seller's
				authorized agent shall certify that all the items of information entered on the
				transfer form PT-61 are true and correct (to the best of his knowledge and
				belief) and that he is aware that the making of any willful false statement of
				material facts will subject him to the provision of the penal law relative to
				the making and filing of false instruments.
1. The buyer or buyer's authorized agent
				shall acknowledge that, by law, he is required to file a timely property tax
				return on all improved and unimproved real property subject to tax on January
				1. The buyer or buyer's authorized agent further acknowledges that the property
				described on form PT-61 has not been sub-divided or improved during the year of
				the transfer and if no tax return is filed, he will be deemed to have returned
				it at the same valuation as was finally determined for the year in which the
				transfer took place.
2. By filing
				the form PT-61, the buyer is not relieved from the responsibility of filing a
				new timely return where the property transferred has been split from an
				existing property or where there have been substantial changes or new
				improvements to the property, nor would the filing of the form PT-61 relieve
				the buyer from filing an application for homestead or other exemptions to which
				he may be entitled.