Property valuation and the condemnation law share a common basis where their impact on your rights and responsibilities as a property owner are concerned. Keep in mind that the imposition of an easement (i.e., a non-possessory interest in the land of another person) reduces its fair market value in practical terms. As a taxpayer and property owner, you have to assert your rights in case of easement made by the Fulton County property tax authorities.
Declare Your Rights
Easements can also happen between your private property and the government. In this case, the government takes away your property ownership through taking any of your bundle of rights related to real property ownership.
While there are no prescribed procedures, you can declare the negative impact such an easement has on your rights as a property owner. You have two declarations to make, namely:
- Your continued excessive property tax burden because of the Fulton County property tax assessors failure to recognize the loss of value resulting from the easement; and
- Your loss of a certain portion of your property rights for which just compensation was presumably paid - but it was not, under the circumstances.
If you fail to assert your rights in these matters, you will be at the losing end mainly because you are paying taxes that you should not be paying.
Limited Use of Property
Let’s take a closer look at the loss of your property rights over the land subjected to the government’s easement. You have to remember that the easement will limit your property’s usefulness where you are concerned and, thus, you will suffer from its loss of marketability.
Your prospective buyers will most likely hesitate about purchasing it because of such limited use. Even when you are able to sell it, you will find that the reduced price can substantially cut into your profits. You may even suffer even when the government paid “just compensation” for the parcel of land mainly because its offer may be significantly lower than in an arms’ length transaction.
The value loss on the rest on your property will also likely not be acknowledged by the Fulton County property tax authorities. You will continue to experience the impact of over-assessment and, thus, of excessive property taxes. You may, fortunately, file an appeal that can go in your favor, especially with an experienced tax advisor on your side and with House Bill 202 in place.
A few examples of imposition of easement made by the government include:
- Power lines
- Sewer lines
- Pipelines
- Green spaces
The easement can have a negative impact on your property in terms of loss of peaceful enjoyment and limited use. You will suffer its effects from the development and construction stage to the continued inhibition of its optimum use in perpetuity.
The bottom line: You have to assert your rights as a taxpayer and property owner even when it is the Fulton County property tax authorities on the other side of the table.
