The tax man cometh…and there will be pain in Fulton County. As one of the worst run counties in the nation (yes, my opinion) some Fulton County home owners will see a 50%+ increase in assessed value…in one shot. And where does the majority of the money go? “The Atlanta Board of Education, which receives the lion’s share of the funding from property taxes, talked about the tax assessment. “I think the impact on us is going to be crazy,” school board member Nancy Meister said”. You think Nancy? And yes – that school district…Atlanta Schools Cheating Scandal – 11 of 12 Defendants Convicted (including three executive administrators, one principal, one assistant principal and four teachers).
Keep an eye out for notices, key things to note:
- The county assigns a property a Fair Market Value (FMV) for taxation purposes
- This assessment includes an estimate of taxes for 2017 based on the FMV
- No taxes are due at this time, 2017 tax bills will be sent out later this year
- Assessments can be appealed with the county
- The assessor mails the notice to the owner of record as of Jan. 1, 2017
- A 2017 buyer will not receive the notice in their name as it was mailed to the seller.
- Renting? Yes, you’ll feel the pain as rents will increase to cover the bump.
It goes without saying that everyone should review the updated assessment and challenge it if it’s out of line. It’s a process, one we outline in How to Challange a Property tax Assessment. Instructions on how to challenge the assessment will be on the notice, you can do it yourself or have a third party represent your interests. We’ve worked with Cambell & Brannon, Property Tax Division and they can handle all questions and concerns.
Check your assessment, whether Fulton or another county. Remember, these municipalities count on people not paying attention or not understanding the process – don’t let them take your eyeballs and waste your money. That’s something they excel at…