Did you just get your Fulton County property tax assessment and let out a shout of surprise? Chances are it was not a happy surprise. Whether you learned that your assessment went up or down, the good news is that it may not be the last and final word on the matter. As the experts of This Old House said, "You wanna fight the power, eh? You're not alone. With property taxes continuing to rise nationwide, many homeowners are starting to challenge" assessments.
Why Challenge the Fulton County Property Tax Assessment?
The reasons that you might wish to dispute your Fulton County property tax assessment vary, though. This is because you might feel it is far too high, or it might have declined and caused the potential sale price of a residential or commercial property to decline. Now, those are not the only reasons to put up a fight, however.
After all, your assessment was made up of a range of variables, and the way that the Fulton County property tax assessment was done varied, too. How? Well, an assessor may have come to the home, or may have looked at the real estate documents to see what you paid for the property.
As you can see, that is two very different ways of gauging value. If done "on paper" alone, they would look at median prices in the area and base calculations on it. Yet, there could be many details missing and simple typographical errors can lead to problems.
Case in point, you have .30 acres but someone typed in 3.0 acres. That would be one huge bill and mistake.
The list of factors used to determine your Fulton County property tax assessment always includes the lot size, number of baths, square footage, whether there is a finished basement, garage size and whether there is a pool. They look at the property and every structure on it, and the overall value of all structures is what determines the final valuation. Yet, the values can change radically based on everything from improvements or damages left unrepaired. These are issues that don't show up when the valuation is done without a visit.
It is also possible that potential exemptions were overlooked, and that too could cause a skewed or flawed assessment. This is why you might get a Fulton County property tax assessment that is higher (or lower) than neighbors or friends with nearly identical properties who may be paying more (or less).
What to Do About Your Fulton County Property Tax Problem
Now, if you are unhappy with that assessment, don't set the letter aside and think you'll deal with it later. That is because there are always time limits on appealing your assessment. Getting right on the case is the only way to go.
The first step is to ensure you file or let them know you intend to appeal. After that, you've got a lot of legwork and data gathering to tackle. This includes pulling together any documentation you think will show or prove that the current Fulton County property tax bill is wrong.
For example, it is not unusual to require:
- Property maps or surveys
- Architectural renderings
- Insurance reports (if the home was damaged)
- Any documentation that supports your argument for an adjusted assessment
You would also then have to find a way to track down what are known as "comps". These are just properties comparable to your own, and that are recently sold. So, let's say you have a four bedroom, colonial style home. It sits on half of an acre and has a free standing garage and small garden shed. You would have to find at least five other properties of that kind that have recently sold in the area. Get the data about them, and use any dramatic variations in value between those properties and your Fulton County property tax assessment as proof of a problem.
How and where can you get this information? The Internet can be helpful, but you need to have valid sources with proven authenticity. You would also need to submit all of the proper forms according to the required schedule of deadlines.
Then? You wait. You will hear back from the Fulton County property tax office about the matter. There is always a chance they'll agree, but then again, they may not. Is there a way you can be sure it is worth all of the time and effort you will have to put into the matter?
Should You Challenge the Fulton County Property Tax Assessment?
Ask yourself how much the valuation is off. Whether it is commercial or residential, and too high or too low, just ask yourself what outcome you want to see. Most agree that anything above even 5 to 10% is going to pay off over the next few years.
Yet, do you have the time it will take to put together your appeal? Do you have the resources for tracking down the documentation? Not many property owners have what is needed when it comes to challenging assessments. The good news is that they don't have to! There are experts with the right amount of experience in property valuations and tax reductions able to do all of the work.
What that means, though, is that the first step after opening that letter and getting that unwelcome surprise, is to contact the professionals right away. They can start the appeal process within only hours or days of your call.
Fair Assessments, LLC is a trusted source for professional property tax appeals in the Atlanta metro area as well as offering commercial property services in GA and FL. With more than 24 years of experience and success for commercial and residential property owners, and a history of real estate valuation and tax reduction experience, they are a great resource when you need them. Get in touch today to find out how to begin the process of appealing your inaccurate property tax assessment in Fulton County.
