--- title: Fair Market Value vs. Assessed Value in DeKalb County description: Understanding the difference between Fair Market Value (FMV) and Assessed Value is the first crucial step for every DeKalb County property owner when reviewing their annual property tax assessment notice. image: https://www.fair-assessments.com/hubfs/AI-Generated%20Media/Images/The%20image%20depicts%20a%20visually%20engaging%20infographic%20comparing%20Fair%20Market%20Value%20FMV%20and%20Assessed%20Value%20in%20DeKalb%20County%20At%20the%20top%20bold%20headings%20label%20each%20section%20with%20contrasting%20colors%20to%20distinguish%20FMV%20from%20Assessed%20Value%20The%20left%20side%20features%20a-1.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 DeKalb County Posted by [Daniel Jones](https://www.fair-assessments.com/blog/author/daniel-jones) on Oct 3, 2025 8:15:00 AM - [Tweet](https://twitter.com/share) Understanding the difference between **Fair Market Value (FMV)** and **Assessed Value** is essential for every DeKalb County homeowner when reviewing their **Annual Notice of Assessment**. These two values may seem similar, but they serve distinct purposes in calculating your property taxes — and knowing the difference could save you money if you decide to appeal. ![The image depicts a visually engaging infographic comparing Fair Market Value FMV and Assessed Value in DeKalb County At the top bold headings label each section with contrasting colors to distinguish FMV from Assessed Value The left side features a-1](https://www.fair-assessments.com/hs-fs/hubfs/AI-Generated%20Media/Images/The%20image%20depicts%20a%20visually%20engaging%20infographic%20comparing%20Fair%20Market%20Value%20FMV%20and%20Assessed%20Value%20in%20DeKalb%20County%20At%20the%20top%20bold%20headings%20label%20each%20section%20with%20contrasting%20colors%20to%20distinguish%20FMV%20from%20Assessed%20Value%20The%20left%20side%20features%20a-1.jpeg?width=500&height=286&name=The%20image%20depicts%20a%20visually%20engaging%20infographic%20comparing%20Fair%20Market%20Value%20FMV%20and%20Assessed%20Value%20in%20DeKalb%20County%20At%20the%20top%20bold%20headings%20label%20each%20section%20with%20contrasting%20colors%20to%20distinguish%20FMV%20from%20Assessed%20Value%20The%20left%20side%20features%20a-1.jpeg) ### 📊 1. Fair Market Value (FMV): What the County Thinks Your Property Is Worth **Definition:** Fair Market Value is the estimated price your property would likely sell for on the **open market** as of **January 1st** of the tax year. In Georgia, counties are required to value all real property at FMV annually per state law (O.C.G.A. § 48-5-2). **How It's Determined in DeKalb:** The **DeKalb County Board of Tax Assessors** calculates FMV using: - **Recent Comparable Sales** in your neighborhood - **Property Features** (square footage, condition, renovations, garage, basement, pool, etc.) - **Location & Amenities** (school zone, neighborhood quality, proximity to transit/shopping) - **Market Trends** and general **economic conditions** **Why It Matters:** If you appeal your taxes, you're almost always challenging the **FMV**, not the Assessed Value. If you successfully reduce the FMV, your entire tax liability decreases accordingly. --- ### 🧮 2. Assessed Value: The Portion You Actually Pay Taxes On **Definition:** The Assessed Value is the **taxable portion** of your property's FMV. In Georgia, including DeKalb County, most real property is assessed at **40% of its Fair Market Value**. > 🧾 **Formula:** > Assessed Value = FMV × 40% **Legal Authority:** This ratio is set by **Georgia law (O.C.G.A. § 48-5-7)** and is consistent across counties for residential property. **Why It Matters:** Your **exemptions** (like the Homestead Exemption) apply to this Assessed Value, not the FMV. --- ### 🔁 How It All Ties Together: Here's the step-by-step breakdown of how your property tax bill is calculated: 1. **DeKalb County assesses the FMV** of your home. 2. **They calculate 40%** of that value to get the Assessed Value. 3. **Exemptions** (like Basic Homestead, Senior, or Disability) are subtracted from the Assessed Value. 4. **Millage Rates** (tax rates set by the county, school board, city, etc.) are applied to the **net taxable value**. 5. The result is your **annual property tax bill**. --- ### 📉 Why Understanding This Helps You Save: - **Appealing Your Taxes:** You’ll be appealing the **FMV**, not the Assessed Value. A lower FMV → lower taxes. - **Exemptions Impact:** Since exemptions are applied to Assessed Value, knowing the 40% rule helps you estimate your actual savings. - **Budgeting:** Understanding the 40% ratio helps you better forecast future tax changes based on market trends or renovations. --- ### 📌 Example: If DeKalb County assesses your home at a **Fair Market Value of $300,000**, your: - **Assessed Value** = $300,000 × 40% = **$120,000** - If you qualify for a **Basic Homestead Exemption of $10,000**, your **net taxable value** becomes $110,000. - That net taxable value is then multiplied by the **millage rate** to calculate your final tax bill. --- ### 📝 Summary | Term | What It Means | Used For | | --- | --- | --- | | **Fair Market Value** | What your home is worth on the market (County’s estimate) | Starting point for taxes | | **Assessed Value** | 40% of FMV, as mandated by Georgia law | Used to calculate your tax bill | | **Exemptions** | Reductions applied to Assessed Value | Lowers your taxable amount |   Understanding the **FMV vs. Assessed Value** difference gives you the tools to evaluate your tax bill and potentially lower it through an appeal. Always review your **Annual Notice of Assessment** closely, especially in rapidly changing markets like DeKalb County. ---   🕐 **Important Reminder:** You only have **45 days from the date printed** on your DeKalb County Annual Assessment Notice to file an appeal if you disagree with the valuation. Don’t miss your opportunity to dispute an incorrect assessment! ---   ## 📚 Helpful Resources - 🧾 **DeKalb County Board of Tax Assessors** [https://www.dekalbcountyga.gov/property-appraisal](https://www.dekalbcountyga.gov/property-appraisal) Phone: (404) 371-0841 - File an appeal, view your property data, or review your FMV and Assessed Value. - 💰 **DeKalb County Tax Commissioner’s Office** [https://dekalbtax.org](https://dekalbtax.org) - Pay tax bills, apply for exemptions, view due dates. - 📄 **Georgia Department of Revenue – Property Tax Division** [https://dor.georgia.gov/property-tax](https://dor.georgia.gov/property-tax) - Learn about Georgia’s tax rules, FMV requirements, and appeal rights. - ⚖️ **O.C.G.A. § 48-5-7** – Assessment Ratio Law https://law.justia.com/codes/georgia/2020/title-48/chapter-5/article-1/section-48-5-7/ ![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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