Here are some highlights from the changes to the Georgia property tax law:
- Requirement that every property owner receive annual Notice of Assessment, which guarantees right to appeal
- Every Notice of Assessment must contain estimated property tax
- Expansion of appeal time-period from 30 to 45 days
- Alternative streamlined appeal option for property valued in excess of $1,000,000
- Automatic taxpayer victory on appeals when government fails to respond within 45 days
- Requirement that all relevant sales, including distress sales, be included when determining Fair Market Value
- Requirement that only “current use of property” be used in determining Fair Market Value
- Taxpayer must be given access to all data used in determining Fair Market Value
- Sales price establishes Fair Market Value for next tax year
