You expect your local government to be as accurate as possible in its procedures, and for the most part, Gwinnett County does a good job of that. However, there’s one area where you might find their judgment doesn’t meet with your own – property value assessment. It’s possible, even likely, that the Gwinnett County tax assessor has over assessed your property. What does that mean for you and how can you rectify the situation? Here’s what you should know.
Over Assessment – Why It Happens
To determine the amount you owe in property taxes, the Gwinnett County tax assessor multiplies your home’s value by the local tax rate and then deducts any exemptions from the amount. The result is your tax burden for the year. The problem here is that the value of your home might be incorrect.
Most counties only reassess the value of your home once every three years, or even less frequently. With the way property values have fluctuated in recent years, this means that it’s very possible the assessor is operating with outdated value information. Your property has likely lost considerable value, even with the increase in real estate values (most areas are still depressed, despite modest gains across the country in recent months).
Of course, there are other ways that over assessment can happen. Like most other counties in the state, the Gwinnett County tax assessor uses what are called drive-by assessments to determine what your home’s worth. Simply put, an assessor pulls up to your driveway, views the home’s exterior, compares that to records, and determines the value. What if the assessor thinks you’ve finished out your basement when you really haven’t? What if they think you’ve added a bedroom, or just get the number of bedrooms wrong? What if they miscalculate the number of square feet your home encompasses? All of these things translate into over assessment.
Other Reasons for Increased Property Tax
Inaccurate assessments by the Gwinnett County tax assessor are certainly the most common source of high property taxes, but they’re not the only one. Increased tax rates are another way that your tax burden increases. In fact, Gwinnett County enacted a tax increase at the beginning of 2013 that affects virtually all homeowners within the county. The reason for the increase was a change in the law that prevents the county from charging residents for police and fire services – property taxes allow the government to recoup those costs.
What to Do If You Think You’re Overpaying
If you think you’re overpaying on your property taxes, you can file a dispute with the Gwinnett County tax assessor. However, understand that you’ll have to provide some specific information, and you’ll also need to know the actual value of your property, which is harder to do than you might think. Working with a tax appeals expert ensures that you have the expertise, knowledge and experience of a professional at your side during this process.
Sources:
http://www.wsbtv.com/news/news/local/gwinnett-approves-property-tax-increase/nTmSP/
