
While property values have been declining across the United States, including in Fulton County, the same cannot be said for property taxes. In fact, in many areas, property taxes are doing nothing but rising. This can be problematic, as many homeowners are currently dealing with a troublesome economy.
What you might not know is that according to the National Taxpayers Union, up to 60% of properties may actually be assessed at a higher level than they should be. That is why many people are looking for options in lowering their property bills or finding a way to pay only what is reasonably required based on their property assessment. This is where the help of property tax consultants come in handy.
How Property Taxes are Determined
When determining what property taxes you are required to pay, your local or county government will first pull up the assessed value of your property. From there, this is multiplied by the tax rate that is in place by your government. In addition, any exemptions are subtracted from the bill you receive in the mail each year. These taxes are used to fund things like police stations, fire departments, schools, and infrastructure in Fulton County.
Request and Study Your Own Property Tax Card
You may not realize this, but you can take a drive down to the town hall and ask to see or obtain a copy of your property tax cards. What this card shows is information your government has gathered about your home or property over time. You’ll find information about the dimensions of your rooms, the size of the lot, and how many fixtures are included in the house. There may also be other notes about improvements or unique features of the home, as well.
When you look over this information, make sure all of it is accurate. If it isn’t, you may be able to lower your taxes with the help of Fulton County property tax consultants. You should write down the issues that are included on the property tax card to ask for a new evaluation or a correction on your file. The truth is that mistakes often happen and when found, the assessor’s office is required to correct them.
Avoid Adding on To Your Home
When you choose to follow through with any structural changes on your property or home, it is going to bump up the property tax bill. This includes adding a shed, a pool, a deck, or any other permanent item that will cause it to increase in value. Before any addition is made to the property, be certain that you are willing to pay a more expensive property tax each and every year for it.
If you are already considering an addition to your home, there’s no reason you can’t go through with it. You just need to be aware that it will increase the taxes you are required to pay. The best option is to work with property tax consultants who can help you determine what extra taxes might be associated with the change. You can also get an idea of how much value that addition will add to your home, which may be worth slightly more expensive taxes in some cases.
Pay Attention to the Neighbors
You can find information about your own home easily, as we mentioned above. However, it isn’t only your property that you can glean information about. You can also look at the property assessments for the individuals who live near you. When you look at homes that are similar to yours, it can give you information on how evaluations are structured.
For instance, if you own a four-bedroom house with a single-car garage and were assessed at $200,000 but your neighbor who has a four-bedroom and a two-car garage was assessed $215,000, you can see what may have added to their assessment. On the other hand, if the same houses above led to you having a higher assessment, this might mean a mistake was made. You may find it best to ask for a reassessment to be sure.
Consider a Guided Assessment
When a tax assessor shows up to walk through your home, one of the best things you can do is guide them through the home. An unguided assessment might be more convenient for you, but it can be a mistake to choose this option. When an assessor is looking at your home and belongings, they may be biased and mainly notice the positive aspects of your home. If you are present, you can point out small problems in the home that should also be taken into account. This is one of the best possible ways to ensure a fair assessment and appropriate property taxes in Fulton County.
Putting It All Together
Sometimes having the beautiful home that you want can be hard to balance with your desire to pay limited amounts of property taxes. You don’t have to let your home languish or fall apart in the process. While you might want to avoid major renovations or improvements when an assessment is coming, you don’t have to completely change the way you exist in your home. Take time to follow some of the tips above, and you may find yourself paying less on taxes when the time comes.
The experts at Fair Assessments LLC are property tax consultants with an exceptional understanding of property tax appeals. We work with those who own both residential and commercial properties to ensure you are paying no more on taxes than you should be. You can also find many resources to utilize for your research into property tax matters.
If you have any additional questions for us, you can reach us at 404-618-0355, info@FairAssessments.com, or our contact form on our website. Feel free to get in touch at any time and we’ll be happy to offer you answers or advice for your situation.