In accordance with House Bill 202 (HB 202), property owners and taxpayers have the right to access relevant information from the Board of Tax Assessors (BOA). Said right can be exercised in several ways and can be done in relation to questions regarding a property tax increase – or more appropriately, questions about the assessed value of subject residential or commercial property.
Know Your Expanded Right to Information Access
Here are a few things that you should know about obtaining relevant information from the BOA. You and your tax consultant will work toward this crucial step in reducing your real property’s assessed value and, thus, its applicable property taxes.
Of course, even before HB 202 was passed, property owners and taxpayers already had the right to access the records of the relevant government agency. You can, for example, request for a copy of your property tax records from the local assessor’s office to determine the accuracy and completeness of the information contained therein. You may even find substantial errors in your property records that resulted in your property’s overvaluation.
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But under HB 202, your right to access information in the Board of Assessors’ records has been expanded in three ways. Your tax consultant should be able to take full advantage of the expanded right of access to information. You don’t have to shoulder the burden of a property tax increase, if your tax consultant does his job well from the start. With knowledge comes the responsibility to take action on your expanded right to information access. HB 202 broadened said right in several ways, namely:
Act on Your Right to Information Access
- The BOA, upon the request of the concerned property owner or his agent, is required to provide a full description of the methodology applied in the determination of fair market value (FMV). Bear in mind that the methodology used will have a considerable impact on FMV and, thus, on assessed value (AV). The latter is computed as 40% of the former in Georgia so a property determined to have a $1 million FMV will have a $400,000 AV.
- The property owner and taxpayer have the right to interview an authorized employee of the BOA about the valuation methods used on his property. The interview should be set within official hours and can be recorded by the property owner at his expense. Bear in mind that there are rules regarding the interview procedures, which are under the jurisdiction of the Superior Court.
If you’re unsure about conducting the interview for any reason, you can let your tax consultant do it on your behalf. You’re well-advised to be present during the interview so that you can ask impromptu questions, if necessary.
- The exchange of information between the parties in an appeal is now statutory and subject to more stringent requirements. For example, the exchange of information between the parties must be done in a timely manner – no less than 7 days before the hearing in case of appeals made to the Board of Equalization and at least 7 days before the hearing in case of appeals made to arbitration and hearing officer. Failure to do so can result in negative consequences, such as exclusion of evidence.
Conclusion
If you want to reduce your property tax increase, be sure to contact the property tax consultants who are updated about changes to the appeals process.
