Freeport exemptions work the same way as homestead exemptions in that they exempt from taxation a portion of the assessed value of the property. Athens-Clarke County voters have elected to exempt the total value of the following types of commercial and industrial inventory:
Raw materials and goods in process of manufacture
Finished goods produced in Georgia within the last 12 months
Finished goods stored in Georgia within the last 12 months and destined for shipment out of state
The deadline for filing an application for freeport exemption with the Board of Tax Assessors is April 1 to receive the full exemption. However, a partial exemption can be awarded if the application is submitted before June 1.