§ 13. Taxation.

(a)

For the purpose of raising revenues for the support, maintenance and operation of the government of the town including the payments of bonds, interest on bonded debts and creation of a sinking fund for the final extinguishment of bonded debts, the town council, as the government authority of the town, shall have power and authority to assess, levy and collect an ad valorem tax on all real and personal property owned or held within the corporate limits of the town which, under the laws of Georgia, is subject to taxation not exceeding ten mills, or five mills upon the assessed value of all such property.

(b)

The town council shall have the authority to determine and assess the taxable value of all property in the town subject to taxation

(c)

The town council is granted authority to provide by ordinance for the returning or reporting of all property subject to taxation by the town and to require all persons owning such property to file a written statement and description of such property and its fair market value under oath.

(d)

The town council shall have the authority to provide forms upon which real and personal properties shall be returned for taxation and shall by ordinance fix the time, place and manner of returning or reporting property for municipal taxation.

(e)

In the event any person required to return or report property for taxation shall fail to do so within the time and in the manner required by ordinance, the tax commissioner or such other official as the town council may designate for such purpose is authorized to return for taxes such omitted property at its true market value, plus penalty.

(f)

The town council may prescribe by ordinance a penalty for failure to make the return or the report of property for taxation within the time prescribed; provided, however, such penalties shall not exceed 25 percent of the tax owed on such property, and such penalty so provided and fixed shall be a lien upon the property of the taxpayer who defaulted in making the return as required and shall be collected in the same manner as other municipal taxes.

(g)

The town council, as the governing authority of the town, is granted power and authority to prescribe by ordinance the time, place and manner at and in which taxes owed to the town shall be paid, to whom taxes shall be paid, to allow a discount in the sole discretion of the council for payment of taxes before maturity, and to provide a penalty in an amount not exceeding ten percent of the tax owed for failure to pay taxes within the time as the town council shall require by ordinance.

(h)

The town council is granted power and authority to collect ad valorem taxes owed to the town by issuance of execution against the property so assessed and the owner thereof, and the tax assessed as ad valorem against any property in the town shall be a lien on the property assessed for taxation.