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Property Value Assessments Rolled Back

 
By Andy Goldstein
By now property owners in Fulton County have received their revised 2017 annual notices of assessment. This is the notice that informs you of the taxable value the county uses in determining your property tax bill. This notice also gives you the opportunity to appeal the taxable value of your home.
In an effort to appease homeowners who complained about the huge increases the county rolled back the 2017 values to what they were in 2016. On the surface this may appear to be a good thing but it will lead to issues in the future.
The reason so many of you saw huge increases is because for many years the county values were way below market value. Once the county realized this they raised your values by a significant amount. After thousands of people complained the Fulton County Board of Commissioners voted to rollback the 2017 values to what they were in 2016.
Remember that your property tax bill is calculated by multiplying your assessed value by the millage rates so by lowering values, the millage rates will have to be increased. Furthermore, in 2018 the county will raise values right back to what they were in 2017 possibly even higher.
The AJC wrote a very good article about this which you can read at www.yourtaxrep.com.
In order to manage this situation I suggest that every homeowner file a property value appeal. By going all of the way through the appeal process you can freeze your 2017 property value for years 2017, 2018, and 2019. Once the frozen value expires in 2020 you will see a value increase but at least you know it’s coming and you can budget accordingly.
Remember, you have 45 days from the date on the notice to file an appeal so be proactive and file an appeal. 
Andy Goldstein. Property Tax Consultant
www.yourtaxrep.com
andy@yourtaxrep.com
404-822-3643

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