There is just over a week remaining to appeal your commercial Cobb County property tax assessments. The Cobb County property tax assessors took the first opportunity to increase values in several years to heart and jacked up a lot of commercial values. I have filed appeals on commercial values that have increases as high as 115%!
Most commercial property owners will say that we are still in recession, but not the Cobb County property tax assessors. I have clients that are teetering on the edge of insolvency but everything is looking up at 736 Whitlock Avenue! Maybe they haven't noticed that vacancy rates haven't improved. Maybe they haven't heard that tenants can still demand lower rent payments on the legitimate threat of moving to a lower cost building.
The capitalization rates they are using are insanely low. A mom and pop neighborhood retail center (no national or regional tenants) in Kennesaw, GA is getting a capitalization rate as if it were a Publix anchored center in the middle of Buckhead! Doesn't anyone realize that the capitalization rates they are getting from national publications are geared toward institutional grade investments? Is Kennesaw really the best location in the Atlanta metro area?
Save your money! Appeal your Cobb County property tax assessment.