Up until this year, the way property taxes were determined varied from
county to county throughout Georgia. The Governor signed Senate Bill 346 in June 2010. This legislation united the systems throughout the state and made it fairer for Georgia property owners. The provisions of the new law should benefit you.
- The county must notify you every year of your assessed value.
- The notification must include the estimated tax based on last year’s millage rate.
- The notice will contain information on how to file an appeal.
- You will have 45 days to appeal the assigned value.
- You can request a list of the comps used to determine your home’s value.
County notices should be arriving soon. If you think your assessment is too high, you must appeal within the time period allowed or lose the opportunity. Some things that you should consider are the number of foreclosures and short sales that have occurred in your neighborhood in the last year. This data must be included in determining your fair market value.
The result of this sweeping reform should be lower property taxes in 2011 since previous property assessments have not accurately reflected declining values. If you decide to appeal, we would be happy to provide you with information on comparable sales around your home. This is a free, no obligation service. Just call or text me at 770-605-3775 or send an email with your contact information to Realtor@RuthHonick.com
