The Hall County tax assessor sent out year 2013 property tax assessment notices on April 14. The appeal filing deadline for all counties in Georgia is now 45 days, so you have until May 27 to file a Hall County property tax appeal. A client of ours was thoroughly shocked when he got his 58% increase in Hall County, GA property tax assessment for tax year 2013. This was a community retail center, so it will be interesting to see if the Hall County tax assessor hit just certain property types, or whether many properties throughout Hall County, GA, were increased in value.
It is possible that the Hall County tax assessor is sticking it to commercial property owners and giving residential property owners a break. It has yet to be seen. During the recovery from the great recession the commercial real estate sector has been doing quite well, due to the low level of interest rates in the economy and institutional money seeking out higher rates of return with relative safety. Commercial real estate, especially the apartment sector has been especially desirable for institutional money and all commercial real estate capitalization rates have fallen since the height of the recession.
Of course residential real estate recovery is in the air and if you believe real estate agents it is now a sellers market. I guess it doesn't matter that lenders standards increased during the recession and haven't come down much. A large percentage of the US population is still ineligible for a traditional mortgage loan at this time. I don't see how there can be much of recovery until that changes. If you believe the Case-Shiller home price index Atlanta residential values are still at year 1999 levels.
During the real estate recession the Georgia Gen. assembly passed a moratorium on tax assessment increases in Georgia. That moratorium on increases ended with the 2012 tax year. Other than the Cobb County tax assessor I don't know of any county in the Atlanta Metro area that took it upon themselves to increase many values in 2012. Now we are one more year away from the recession and one more year into the so-called recovery, so you can bet that counties that didn't get efficient during the recession are chomping at the bit to increased tax revenue. I'm not pointing a finger at Hall County, Georgia. I'm just saying that's the way it is.
if you get a big increase in your Hall County tax assessment notice contact us about it. We will give you a free consultation, taking a look at your value, and letting you know whether you can benefit from our service. It's our mission to make sure everyone's assessment is fair and that's why we call ourselves Fair Assessments.
