As the DeKalb County property tax authorities and experts will agree, price trends have an impact on property assessments and, thus, on real property taxes. Values are influenced by the prevailing sales prices of similar property in the area. Comparable sales give a good indication of market value. This market value and the corresponding 40% assessed value appears on the annual notice of assessment and your tax bill. 

There is always good news and bad news to every movement in the real property industry. On one hand, the 2008 Great Recession has significantly reduced the homeownership rate in the United States, which dimmed the hope for the American Dream. On the other hand, the multifamily sector rose up to the occasion by increasing its construction projects to meet the demand for its units – and herein lies the problem for many, if not most, of the businesses that have dealings with the Gwinnett County Tax Assessor. 

Keep in mind that the Fulton County property tax authorities particularly the Board of Assessors have the responsibility of ensuring the equitable and reasonable valuation of all taxable real and tangible business personal property in their jurisdiction. You are probably wondering exactly what processes and procedures the Board uses in the determination of the appraised and, thus, of the assessed values for all taxable property in Fulton County.

Many property owners will have hesitations about asking questions of the DeKalb County Tax Assessor. You should consider that every taxpayer has the right to ask relevant tax-related questions in the same way that every taxpayer has the responsibility to pay the right taxes, at the right time, to the right office. Here are a few questions that you may ask your Tax Assessor – or more appropriately, any member of the Board of Tax Assessors – and their staff.

The administration of property taxes involves three main offices, namely, the tax assessors, the chief appraiser, and the tax commissioner.  In many counties, the roles of the tax assessors and chief appraiser are combined in a single office. This is true for the Gwinnett County tax assessment process whereby the tax assessors have a chief appraiser and a staff of property appraisers.   

Obviously you should challenge the Fulton County tax assessors based on the accepted grounds for appealing their assessed values on your property. Keep in mind that your best chances for a winning property tax assessment appeal are in dealing with the assessors in a professional manner, presenting solid evidence, and getting an experienced tax consultant to handle your appeal.

The DeKalb County tax assessor has the legal mandate to provide the constituents within its jurisdiction with efficient, accurate, and timely assessments of real and personal property valuations. While real property (real estate) is the most widely known subject of property valuations for tax purposes, you must also remember that the tax assessor has the power to assess business personal property, too.  Here are a few things that you have to know about the process implemented by the tax assessor’s office. 

When you receive your annual notice of assessment from the Gwinnett County Tax Assessor in the mail, you should be prepared for the possible changes in your real property’s appraised and, thus, assessed value. Keep in mind that the assessed value is usually 40% of the appraised value with the former as the basis for the tax bill computation. 

The good news: The multifamily market appears to be sustaining its momentum started in 2015 with many investors enjoying the increase in rents and rates of occupancy as well as the decrease in cap rates. The bad news: Taxpayers may see an increase in Fulton County property tax valuations, which multifamily development investors must be prepared for particularly in challenging possible over-assessments on the real property. 

When you are filing a DeKalb County property tax assessment appeal, you should know the basic terms especially regarding assessment and appraisal. While the two are often used interchangeably, there are essential differences that taxpayers should know and that tax consultants will usually tell their clients.