A single mistake in your real property’s assessment will be reflected on your annual notice of assessment. So as a property owner and taxpayer, you should be curious about the basic ins and outs of the DeKalb County property tax assessment process. Your basic knowledge about the assessment process can mean the difference between winning and losing your appeal.
Annual Reassessment of Property
All counties are obligated by law to establish a fair market value as of January 1 of each year. All properties, both real properties and business personal properties, are to be returned and assessed at their fair market values on an annual basis.
While the annual assessment requirement is mandatory for all counties, the State of Georgia does not have a mandated revaluation schedule. Each county, including the DeKalb County property tax assessors, have the power to annually review the values on the tax digest in comparison with the sales data gathered. The fair market values can then be adjusted or updated.
The frequency of adjustments to the property values within a jurisdiction will vary depending on several factors. For example, DeKalb County may adjust its property values on an annual basis due to the significant growth in the real estate market, which other counties may not enjoy.
Contrary to popular opinion, the Board of Tax Assessors (BTA) will not increase property values within its jurisdiction for the sake of increasing the county’s revenue. This is because the main purpose of revaluation is to ensure the uniformity, equity and taxability of the real property on record.
You should not immediately regard any increase in assessed value, as reflected in your annual notice of assessment, as the county’s method of increasing its funds flow at your expense. Instead, you will do well to give the DeKalb County property tax assessors the benefit of the doubt especially when your real property has significant improvements, among other reasons.
In case you still doubt the intention behind the increase, you can file a property tax appeal against the assessment. With the passage of HB 202, you will even find that you have enhanced rights as a property owner and taxpayer although it must also be said that you have increased responsibilities, too. You have access to public records related to your appeal, right to a mandatory settlement conference that a BTA representative is required to attend if you appeal to superior court, and right to record pertinent interviews with the tax assessment staff.
You can find more information about the total assessed values of all real property in the DeKalb County property Tax Digest at the Georgia Department of Revenue website. The consolidation sheets show the assessed totals of all the property listed in the county’s tax digest with each geographic tax district separated from the others. For a hassle-free DeKalb County property tax appeal, contact Fair Assessments, LLC now!