Ascertainment of valuations of special franchises; levy and collection of tax.
(a)In arriving at a proposed assessment, the commissioner…#
(a) In arriving at a proposed assessment, the commissioner shall not be bound to accept the valuation fixed for a special franchise in the return made but shall review the return and valuation. When the commissioner refuses to accept the return, the subsequent proceedings shall be in all particulars the same procedures as are provided by law in the case of refusal to accept the returns made by public utilities of their tangible property.
(b)Special franchises shall be taxed at the same rate as…#
(b) Special franchises shall be taxed at the same rate as other property upon the value of the special franchise as returned or upon the value determined by the county board of tax assessors. The tax on special franchises shall be levied and collected in the same manner as is provided by law in the case of the tangible property of public utilities. History. Ga. L. 1902, p. 37, § 3; Civil Code 1910, § 1021; Code 1933, § 92-2304; Code 1933, § 91A-1804, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1988, p. 1568, § 4. Editor’s notes. Ga. L. 1988, p. 1568, § 15, not codified by the General Assembly, provided that the Act “shall apply to all tax years beginning on or after January 1, 1989.” RESEARCH REFERENCES Am. Jur. 2d. 71 Am. Jur. 2d, State and Local Taxation, § 185. C.J.S. 84 C.J.S., Taxation, §§ 623, 624, 638, 639, 640. ALR. Basis of valuation, for taxing purposes, of special franchise or privilege of crossing street, 57 A.L.R. 379. Indebtedness of corporation as proper item for inclusion in computing franchise tax, 107 A.L.R. 1303. Mortgage on property of taxpayer who is not personally liable as “debt” for purposes of taxing statute, 107 A.L.R. 1310. Transfer of surplus to capital stock account as a dividend for purposes of franchise tax, 107 A.L.R. 1335.