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What Happens If the Assessors Do Lower My Assessment?

Posted by Daniel Jones on Sat, Mar 03, 2012 @ 03 PM

Just as if the assessors had not lowered your value, you should have the right to further your appeal even if they have given you a decrease. If you are certain that your value is 30% too high but they only offer you a 5% decrease, then by all means utilize the second level of appeal that is available. If you are happy with the decrease they have given you then generally speaking you don't have to do anything further. If taxes have already been paid then you may be due a refund. If taxes have not been paid yet the tax may be adjusted downward before bills are issued.

From experience I know that the tax assessors are often using a different computer system than the tax commissioners. So there is a bit of a time lag between your reduction in tax assessment and the time that the tax Commissioner's office gets the information and goes about adjusting their bills. This time lag can be compounded by the fact that there is typically an appeal period after each level of appeal except for the last one. For example, in Georgia, after the assessors offer you a reduction you have 30 days to appeal the new value to the Board of Equalization. If you are happy with the reduction and you choose not to appeal, the assessors still have to wait for the 30 days to elapse. This adds to the amount of time it takes for the change to filter through to your tax bill.

Congratulations! Hopefully you saved some money! Of course, there is more than one moving part to the property tax equation. If the tax rate didn't change then you definitely saved some money, and if the tax rate increased, it depends on the percentage increase versus the percentage decrease in your property tax assessment. If you didn't save enough money there is always next year!

For all of your property tax appeal assistance contact Fair Assessments LLC. We specialize in commercial property tax appeals in the Southeast and residential property tax appeals in the Atlanta Georgia metropolitan area.