If you own property in Fulton County then you should be interested to know a little something about the Fulton County Tax Assessor. Arming yourself with knowledge about anything gives you power. We’re not saying you will ever need power over the tax assessor, but you never know, there may come a time when a little extra power in the form of information might come in handy.
Let’s start by looking at some terms that the Fulton County Tax Assessor might use when they’re talking about your property.
Fair Market Value
The fair market value of your property is an amount that you, the seller, and another party, the buyer would be willing to agree upon and put down on paper without any convincing or arguing over. It has to be an amount that was gotten to under amicable terms.
A Property’s Assessed Value
The assessed value that is assigned by the Fulton County Tax Assessor is the number that is 40% of the fair market value that has been determined.
Millage Rate
The millage rate is essentially just the tax rate. It’s the percentage that the Tax Commissioners Office will apply to the assessed value of your property to come up with the amount to put on your property tax bill. This rate is set by the School Boards of Atlanta and Fulton County, the governing authorities of the city and the Board of Commissioners.
Homestead Exemption
A homestead exemption can save you some money if you qualify for it. If you own a property and you live in it at the beginning of the year, you can apply for the homestead exemption. An exemption makes it where part of the value of your property won’t be included when the millage rate is applied to calculate your property tax. Once you have been approved for the homestead exemption and it’s attached to your file, you don’t have to apply for it again as long as you remain in that home. If you sell the home, the new owners who live there will have to get their own exemption approved. And if you purchase another home and live in it full-time, then you need to apply for the homestead exemption for your new address.
The homestead exemption is definitely worth applying for if you qualify. If you get the basic exemptions applied to your property assessment value for Fulton County, it can save you around $600 in property taxes. If your property is in the City of Atlanta, the basic exemption can save you an average of $1,200. All the calculations will be done at an individual level but you can see how this will benefit you if you qualify.
Assessment Notice
Many people ask the question is the assessment notice that comes from the Fulton County Tax Assessor the same thing as the property tax bill. The answer to that question is no they are not the same. You’ll see the property tax amount indicated on the assessment notice, but that is there to give you a heads up. Your assessment notice is sent to you so that you can see the appraised value of your property. You won’t be sending any type of payment for the property taxes until after you receive an actual bill.
Sometimes the Property Tax Amount on Your Notice Is Different Than What Comes on Your Property Tax Bill
It does happen that sometimes the amount of property tax that is indicated on your assessment notice that the Fulton County Tax Assessor sent out is different than what eventually comes on your property tax bill. Naturally, you would want to know why those two amounts would be different. There are a couple of reasons this might occur. One is that the estimation that was printed on your assessment notice is calculated by using the millage rate from the year prior. If the millage rate has changed, then the new rate would be used to calculate your actual taxes, thus giving you a different amount. The other reason this might happen is because the value of your property either increased or decreased. When this is the reason, it’s a good idea to look into why the value of your property changed if you weren’t expecting it to.
Who Do You Contact If You Don’t Agree with the Assessed Value Given to Your Property?
If you don’t agree with the value that is printed on your assessment notice from the Fulton County Tax Assessor, then you can file an appeal to the Board of Assessors within Fulton County. You’ll submit an appeal form through the online portal, or you can submit the appeal in writing directly to the Fulton County Tax Assessor. There is a physical form you can print out on the assessor’s website. You’ll need more than just a form though to get your appeal approved and the assessed value of your property amended. You’ll have to provide evidence that supports your claim that the value of your property was assessed to be higher than what it should be. Without the support to back up your appeal, it will likely be rejected and you’ll be responsible for the amount of property tax that was calculated.
Know Where to Look for Help with Your Appeal
It’s not the best idea to go it alone when you decide to file an appeal with the Fulton County Tax Assessor. There’s a lot to consider and know about when you’re preparing an appeal. You should look for an expert who specializes in the appeals of property assessment valuations to help you with filing your appeal. There’s a lot of tedious and time consuming work that goes into the preparation of your appeal. And if you submit an appeal form without supporting evidence or without enough supporting evidence, you may delay your appeal from processing like it should, or even worse get it rejected. A professional who works in the business of filing these kinds of appeals knows what you need from the beginning and will make sure that you don’t miss anything when you submit your appeal request. Your chances of achieving a positive outcome for your appeal go up when you work with someone who knows what to expect.
The experts at Fair Assessments, LLC are well-versed in property assessment value appeals. Their expertise in this field is sure to give you a leg up on things when you file your appeal. You can schedule an appointment for a consultation and have your case looked at by a professional with the knowledge it takes to get your appeal approved as quickly as possible.
