Atlanta Property Taxes are Assessed at the Selling Price
I’ve previously written about the recent change in Georgia law, where the selling price of a Georgia house will be the assessed value for tax purposes. The law was a reaction to people owning homes that were assessed, for tax purposes, at values much higher than their true market value. Most of the general public, and a surprising number of REALTORS, still seem to be unaware of this new law. It appears as if Fulton County, and many other counties, are having trouble with the implementation of the change in the law. The AJC recently did a story on how the Fulton Tax Assessors Office...
Read MoreFulton County Tax Appeal Timeline
Here is a quick update on my Fulton County Tax appeal: April 2009 – Purchased home in Buckhead, Atlanta for $605,000 February 2010 – Received Fulton County Tax assessment for $1,150,000 March 2010 – Filed “Real Estate Property Tax Return” for $605,000, the purchase price of my home April 2010 – Received Fulton County’s new assessment, after reviewing my request, it’s still $1,150,000 June 2010 – Filed my notice to the Fulton County Board of Assessors, of my intention to appeal my property tax to the Board of Equalization. Attached...
Read MoreFulton County Property Tax Appeal Rant
I’m currently appealing my Fulton County Georgia property taxes. It’s been going on since March of 2010. I thought I would periodically write about my experience in trying to get an equitable assessment for my home located in the Buckhead section of Atlanta, Georgia. First, the assessment is not supposed to be about theoritic value, it’s required to be about the actual value of your property. Which means if you listed your home tomorrow, your house should sell very closely to its assessed value. Feel free to take a few minutes to stop laughing before you continue...
Read MoreResearching Atlanta property taxes might be antiquated
Smart homebuyers, and their agents, will usually check the previous year’s taxes on prospective homes. With Atlanta’s property taxes, it was considered the prudent thing to do. But now, due to a new law, the “Fair Market Value” will be the sales price. Finding past property tax information might not be as crucial as it used to be. The previous year’s value still matters when determining your pro rata share of the current year’s property tax. It will also give you a proportional point of reference. For instance, if the property’s current tax value...
Read MoreFulton County Homestead Exemption Increase
The new Homestead Laws will allow for an increase in the basic exemption of $15,000 over the next three years. If you are currently receiving a homestead exemption you don’t need to do anything to start receiving the increase. If you are not receiving an exemption, to qualify you must own and occupy your current residence as of January 1st, 2009 and apply by April 1, 2009. If you are 62 or older, you may be eligible for other additional exemptions. Feel Free to call me with any questions. If you live in Atlanta, Buckhead, Dunwoody or Sandy Springs you can go to the Fulton County Tax...
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