While doing research for a property tax appeal on a warehouse/production facility a field visit was performed. The building is in an older industrial part of town and was built early in the last century. By looking at the exterior you can see that the improvements are old and suffer from physical deterioration. Undisclosed Functional Obsolescence was also discovered, which if taken into consideration by the tax assessors would lower the taxable value of the improvements further.

When it comes to filling an appeal for Gwinnett County property tax it isn’t something the owner should do without considering professional help. It isn’t a case of just filling in a few forms. It is knowing exactly what to include and what to exclude. Most commercial property owners include expenses on their income tax returns that are not allowed when valuing property. How many pictures do you need to take etc, this is where experts can help. A professional can help you bring down your tax liability.

Did you know that in most cases mortgages in default are paid off by private or public insurance and yet the bank still takes your property? The banks have never made more money than during and after this mess they created. 

Every year end brings a close to previous plans and ambitions. A new year brings forth new prospects in nearly all affairs. The same approach extends to the taxation field. A new year brings the realization of an overview of the same. Cobb County uses taxes to finance their operations similar to other states and countries. Taxation systems involve different forms and approaches from corporate tax to personal income tax. One form of taxation in all Georgia counties is the property tax. This form of tax has often led to contention based on tax assessment value. Often the revaluation of tax assessments lead to higher levels of taxation.

Property owners and titleholders find it challenging to meet these higher tax burdens. Aggrieved individuals could correct this scenario through a property tax appeal. To understand how property taxes are generated it is proper to look at the system. The process commences when the board of tax assessors, a supposedly independent body, review and establish a fair value for all taxable property in the county. The board of tax assesors is formed and delegated duties through the county commissioners. The beginning of every New Year, January 1, is the property valuation date in Georgia. Property owners fill forms that determine exemption or tax subjection. It is important to note that taxable values conform to the state laws.