According to a news release issued by Payne:
The forum will be at 5:30 p.m. in the courtroom on the second floor of the historic Floyd County Courthouse on Fifth Avenue.
Payne will give a description of the new law and what it will mean for vehicle owners. There will also be time for a question-and-answer period.
The new law will forever change the way vehicles purchased after March 1 are taxed.
If the car is purchased from a dealership, either new or used, the purchaser will not pay sales tax, but rather a new ad valorem tax that is 6.5 percent of the cost of the vehicle. Once that tax is paid, the purchaser will be exempt from annual ad valorem tax for the life of the vehicle.
If someone buys a second-hand vehicle from a non-dealer, they will also pay the new tax, 6.5 percent of the vehicle’s worth. They will also be exempt from the annual ad valorem tax.
Those who purchase vehicles, from a dealer or otherwise, prior to Feb. 28 will not be impacted by the new tax. Owners will continue to pay ad valorem tax as usual.
Vehicles purchased out of state are subject to the tax as well. The tax is the result of House Bill 386, which was approved by the Georgia General Assembly last year.
Call Payne at 706-291-5148 or email him at firstname.lastname@example.org with any questions regarding this forum or the new title tax law.