re: Ad Valorem (property tax) elimination

quote:

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(Revenues are up, people don't have to pay ad valorem annually, and there may be opportunities to finance the sales tax if money down is an issue).
But I don't know how flipping cars works under this system.

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It's partially due to people jumping on the lower rates the first few years. My wife's car, after we paid sales tax in 2012, we opted in to include the sales tax + a tiny one time premium of like $52 to cover all future ad valorem. People buying cars from individuals will definitely be affected as that was a focus of the change as well. If people trade their cars after 3-4 years the future upcharge to sales/advalorem burden will get expensive quickly and the DOR is uncertain what the longer term revenue effect will be.

I dislike property tax, especially on rental property. I have found the county to be reasonable on primary residence appraisal valuation challenges when presented with facts, rental property forget it. OTOH, you do get preferential Fed tax treatment upon sales of primary and investment property.

I really dislike what amounts to a flat state income tax in GA and if you are early retired you can't can't benefit from the exclusions offered to 62-65 year old residents regarding investment and other retirement income. It's like people don't believe in reverse age discrimination.