Property tax is an ad valorem tax, which means according to value. Ad valorem tax, the tax collected by the tax commissioner, is based on the value of the taxable property in the county.

All real estate and personal property are taxable unless law has exempted the property.
(O.C.G.A. § 48-5-3).
Real property is land and generally anything that is erected, growing or affixed to the land; personal property is everything that can be owned that is not real estate. Personal property typically consists of inventory and fixtures used in conducting business, boats, aircraft, motor vehicles and mobile homes. Your household property is not normally taxable.

The Board of Assessors and their staff have the responsibility of determining the value of property in Franklin County. Each year between January 1 and April 1 every property owner has the ability to declare a proposed value for their property. See (O.C.G.A. § 48-5-18) and (O.C.G.A. § 48-5-263). These values are declared in the manner of 'filing a return'. Returns for real estate are filed in the Tax Assessor's office. The Board of Assessors will review your proposed value and if they disagree, an assessment notice with the Boards' value will be mailed to you.

Taxpayers may challenge an assessment by Franklin County Board of Tax Assessors by appealing to Franklin County Board of Equalization or to an arbitrator(s) within 45 days from the date of the assessment notice. Once the county board of equalization or the arbitrator(s) has rendered a decision, the taxpayer may continue their appeal to the superior court by mailing or filing with Franklin County Board of Tax Assessors a written notice wishing to continue the appeal.

Assessed value is defined as being 40% of the fair market value. Property in Georgia is taxed on the assessed value.