Keller Williams Realty Atlanta – Peachtree Road
Real Estate Legal Tip
Presented By:
New Georgia Law changes Property Tax Assessment Procedure
Georgia recently passed “The Property Tax Assessment and Appeals Reform Bill” (Senate Bill 346) on June 7, 2010.
Highlights include:
1. Every property owner will receive an Annual Notice of Assessment and the right to appeal;
2. Every Notice of Assessment must contain the estimated property tax (in dollars);
3. Appeal period has been extended to 45 days;
4. Alternative streamlined appeal option for properties valued over $1,000,000;
5. Automatic taxpayer victory on appeals when government fails to respond within 45 days;
6. Requirement that all relevant sales, including distress sales, be included when determining Fair Market Value (FMV);
7. Requirement that only “current use of property” be used in determining FMV;
8. Taxpayer must be given access to all data used in determining FMV;
9. Sales price establishes FMV for next tax year.
Remember that a reduction in the assessment does not always reduce the actual bill. Other factors such as the millage rate, homestead exemption, and other exemptions will also affect the final tax bill amount.
Presented by Leigh Clack, Attorney
Neel & Robinson Attorneys at Law, LLC
22 Lenox Pointe, Atlanta, GA 30324
lenox@neelandrobinson.com 404-705-3690 fax 404-705-3697
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The new Tax Assessment Procedure is a step in the right direction. The assessments seem to have been so inconsistent.
We looked at buying a house, so we looked at the tax record for that house. The taxes were 50% higher than the house accross the street.
The house across the street was much bigger.The square feet in the tax records on the house across the street were at least 50% less than the actual square feet of that house.
We looked at both houses. The house accross the street was a new 2 story house, and the tax records listed the house as a one story house.
It seems that the tax assessors do not get an accurate picture of every property. You would think that the tax assessor could see that the house was a 2 story house.
This is very unfair to the people who are paying their fair tax.
I was told that the tax assessor does not reappraise the property when an addition is made.
Anything to make the property tax more fair, I am in favor.
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