--- title: Fair Market Value vs. Assessed Value in Cobb description: "Cobb property's fair market value (FMV) vs. assessed value (40% of FMV): Understand the difference for accurate tax calculations & potential appeals." image: https://www.fair-assessments.com/hubfs/AI-Generated%20Media/Images/The%20image%20depicts%20a%20splitscreen%20graphic%20illustrating%20the%20concepts%20of%20Fair%20Market%20Value%20FMV%20and%20Assessed%20Value%20in%20Cobb%20County%20On%20the%20left%20side%20the%20FMV%20section%20features%20a%20house%20with%20a%20price%20tag%20reading%20Fair%20Market%20Value%20alongside%20a%20graphic%20of%20a%20buyer%20a.jpeg --- [![Fair Assessments LLC logo](https://www.fair-assessments.com/hs-fs/hub/163576/file-2350210184.png?width=225&height=74&name=file-2350210184.png "Fair Assessments LLC logo")](https://www.fair-assessments.com/) # Fair Market Value vs. Assessed Value in Cobb Posted by [Daniel Jones](https://www.fair-assessments.com/blog/author/daniel-jones) on Nov 24, 2025 10:00:00 AM - [Tweet](https://twitter.com/share) Understanding the distinction between Fair Market Value (FMV) and Assessed Value is crucial for Cobb County property owners, especially when evaluating property tax assessments and considering potential appeals. ![The image depicts a splitscreen graphic illustrating the concepts of Fair Market Value FMV and Assessed Value in Cobb County On the left side the FMV section features a house with a price tag reading Fair Market Value alongside a graphic of a buyer a](https://www.fair-assessments.com/hs-fs/hubfs/AI-Generated%20Media/Images/The%20image%20depicts%20a%20splitscreen%20graphic%20illustrating%20the%20concepts%20of%20Fair%20Market%20Value%20FMV%20and%20Assessed%20Value%20in%20Cobb%20County%20On%20the%20left%20side%20the%20FMV%20section%20features%20a%20house%20with%20a%20price%20tag%20reading%20Fair%20Market%20Value%20alongside%20a%20graphic%20of%20a%20buyer%20a.jpeg?width=500&height=286&name=The%20image%20depicts%20a%20splitscreen%20graphic%20illustrating%20the%20concepts%20of%20Fair%20Market%20Value%20FMV%20and%20Assessed%20Value%20in%20Cobb%20County%20On%20the%20left%20side%20the%20FMV%20section%20features%20a%20house%20with%20a%20price%20tag%20reading%20Fair%20Market%20Value%20alongside%20a%20graphic%20of%20a%20buyer%20a.jpeg) ## 1️⃣ Fair Market Value (FMV): The Starting Point - **Definition**: Fair Market Value represents the estimated price your property would fetch on the open market under normal conditions. It's the amount a knowledgeable buyer would pay to a willing seller in an arm's-length transaction. - **Determination in Cobb County**: The Cobb County Board of Tax Assessors determines the FMV annually, effective as of January 1st each year. They utilize various methods, including: - **Sales Comparison Approach**: Analyzing recent sales of similar properties in your area. - **Cost Approach**: Estimating the cost to replace the property new, minus depreciation. - **Income Approach**: For income-producing properties, this method estimates value based on the property's potential income. --- ## 2️⃣ Assessed Value: The Taxable Amount - **Definition**: In Georgia, including Cobb County, the Assessed Value is 40% of the Fair Market Value, unless specified otherwise by law. - **Legal Basis**: Mandated by Georgia state law (O.C.G.A. § 48-5-7). - **Calculation**: - 🧮 **Assessed Value** = Fair Market Value × 0.40 This Assessed Value serves as the foundation for calculating your property taxes. --- ## 🧾 Why the Difference Matters for Cobb County Property Owners - **Tax Calculations**: Your property taxes are based on the Assessed Value, not the full Fair Market Value. - **Appeals Focus on FMV**: If you believe your property taxes are too high, appeals should focus on disputing the Fair Market Value determined by the county. A successful appeal can lower both your FMV and Assessed Value, reducing your tax bill. - **Assessment Notices**: Your Cobb County Property Tax Assessment Notice will display both FMV and Assessed Value. Review both figures carefully. - **Homestead Exemptions**: Applicable exemptions are deducted from the Assessed Value, further reducing your taxable amount. --- ## 📝 In Simple Terms Think of the **Fair Market Value** as the full price your house could sell for. The **Assessed Value** is like a discounted price (40% of the full price) that the tax authorities use to calculate your initial tax liability. Exemptions then further reduce this taxable amount. --- ## 📌 Key Takeaways for Cobb County Property Owners - **Understand Both Values**: Recognize the difference between FMV and Assessed Value. - **Focus Appeals on FMV**: Disputes should target the Fair Market Value assessment. - **Review Assessment Notices Carefully**: Ensure both FMV and Assessed Value are accurate. - **Apply for Exemptions**: Take advantage of applicable homestead exemptions to reduce your tax liability. --- ## 📚 Resources - [Cobb County Board of Tax Assessors](https://cobbassessor.org/) - Cobb County Tax Commissioner – Property Overview - Georgia Department of Revenue – Property Tax Valuation - Georgia Code § 48-5-7 – Assessment of Property - Homestead Exemptions in Cobb County ![property tax appeals](https://www.fair-assessments.com/hs-fs/hubfs/2019/icons/blog-sidebar-icon-165x60.png?width=165&name=blog-sidebar-icon-165x60.png "property tax appeals") ### Subscribe to our *A Fair Shake* Blog: [![How Tax Assessors Use Sales to Value Property](https://no-cache.hubspot.com/cta/default/163576/e3546063-41de-49e2-8e46-03a715d129ea.png)](https://cta-redirect.hubspot.com/cta/redirect/163576/e3546063-41de-49e2-8e46-03a715d129ea) [![HOW TAX ASSESSORS USE THE COST APPROACH TO VALUE PROPERTY](https://no-cache.hubspot.com/cta/default/163576/5e017dc4-73d8-4438-a603-74dbb79dada5.png)](https://cta-redirect.hubspot.com/cta/redirect/163576/5e017dc4-73d8-4438-a603-74dbb79dada5) [![New call-to-action](https://no-cache.hubspot.com/cta/default/163576/8252852a-491e-4c1f-9f38-1f129a228e30.png)](https://cta-redirect.hubspot.com/cta/redirect/163576/8252852a-491e-4c1f-9f38-1f129a228e30)  [![linkedin](https://www.fair-assessments.com/hs-fs/hubfs/linkedin.png?width=30&name=linkedin.png)](https://www.linkedin.com/company/fair-assessments-llc/)[![facebook](https://www.fair-assessments.com/hs-fs/hubfs/facebook.png?width=30&name=facebook.png)](https://www.facebook.com/FairAssessments/)  ** Phone: (404) 618-0355** © 2026 Fair Assessments, LLC. 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