§ 24-26. Certain inventories partially exempt (Freeport amendment exemption).

(a)

Inventories 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 of the state, and inventory of finished goods which are shipped into the state from outside the state and stored for transshipment to a final destination outside this state shall be granted a partial exemption from ad valorem taxation, including all such taxes levied for educational purposes and for state purposes.

(b)

The partial exemption from taxation shall be set at one hundred (100) percent of the value of the inventories of finished goods.

(Code 1976, § 3-1012)

State law reference

Freeport exemption, O.C.G.A. § 48-5-48.1 et seq.