The real estate market remains unpredictable, with property values unstable and owners at a disadvantage. Improvement and land values fluctuate on a yearly basis at the best of times, and in the current environment, property owners facing Dekalb County GA property taxes can reasonably wonder whether the value of their house, apartment, or commercial property is being assessed accurately. An appeal process exists for property tax in Dekalb County, but going it alone can be difficult. Hiring a professional can give you the support you need to win your appeal with the Tax Assessor to have your property appraised at a more favorable value, resulting in a lower tax bill.
The process the Tax Assessor uses to determine Dekalb County GA property taxes incorporates three appraisal methods.
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The sales comparison approach derives an assessment based on the sale prices of properties similar to yours in the area, adjusting the appraisal up or down based on differences between your property and the comparable homes or commercial properties used to approximate its value.
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The cost approach calculates the amount of money it would take to replace or recreate a building or buildings identical to yours, subtracts the depreciated value to account for the actual physical state of your structure(s), and then adds the value of the land.
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The income approach applies primarily to rental and commercial properties, and is based on the amount of income revenue generated by the property.
Assessments are usually reached by starting with a cost approach, and then use sales data as a point of comparison to determine whether the cost figure was too high or low. Commercial and rental properties then have the income figure factored in. These figures are used to generate a rough estimate of the value of properties like yours in the same general area. However, individual properties tend to vary in value, sometimes significantly. The easiest way to determine whether you have grounds for appeal is to look at the sale prices of other homes or properties in your neighborhood; if the price per square foot comes out to a lower figure for your property than your tax assessment, you have a strong case that the assessor was wrong. A real estate tax service can also help you determine whether you have a good chance of winning a property tax appeal.
The process for filing a tax assessment appeal seems simple enough at first, but when you scratch the surface, it gets complicated and time-consuming. As of 2011, all Georgia counties are required to issue an Annual Assessment Notice to all taxable property owners, in order to offer an opportunity to appeal before tax bills are sent out. Property owners have 45 days to submit a letter or optional form stating their intent to appeal their tax assessment. Appeals may be made to the Board of Equalization, a Hearing Officer, or Binding Arbitration. A real estate tax service can help you determine which avenue is best for your case, and what supporting documentation and evidence should be included with your appeal letter.
A real estate tax service can also help you with the actual appeal for your Dekalb County GA property taxes. Arguing your case before the Board of Equalization or an arbitrator requires a certain level of comfort in discussing the issues surrounding real estate property values and appraisal, which relatively few property owners have much familiarity with. A tax appraisal professional can handle the "homework" and preparation for you, and even attend the appeal or arbitration on your behalf, eliminating the need for you to take time off from work to present your case.
