The reassessment of property values in Fulton County plays a critical role in determining property owners’ annual tax obligations. Under Georgia law, the Fulton County Board of Assessors is required to determine the fair market value of all taxable properties annually as of January 1 of each tax year. These values are then assessed at 40% of their fair market value for taxation purposes. The reassessment process is designed to reflect changes in the real estate market and ensure that property taxes are distributed equitably across the county.
Below is a breakdown of how reassessments in Fulton County can affect property owners:
Potential for Increased Property Taxes
Rising Market Values
If the real estate market in a specific area of Fulton County has experienced significant appreciation, reassessments will likely result in higher fair market values for properties in that area. As a result, the assessed value—calculated as 40% of the fair market value—will also increase, potentially leading to higher property tax bills.
Catching Up with Market Trends
In past years, Fulton County has adjusted property values to align with previous periods of underassessment. When assessments lag behind the market, reassessments may include large increases to bring values up to date, which can result in substantial tax increases for some property owners.
Potential for Decreased or Stable Property Taxes
Declining Market Values
In neighborhoods where property values have dropped, reassessments should reflect these changes, potentially lowering the assessed value and resulting in reduced property taxes.
Stable Real Estate Markets
If the real estate market in a particular area has remained relatively stable, property owners may not see significant changes in their assessments from year to year.
⚖️ Note: Property tax bills are also influenced by millage rates set by local taxing jurisdictions (such as school boards, cities, and the county government). Even with increased assessments, a reduction in millage rates can offset tax increases—and vice versa.
The Assessment Notice and Your Rights
Annual Notice of Assessment
Fulton County property owners receive an annual Notice of Assessment, typically mailed in late spring or early summer. This notice details the county’s determination of the fair market value for your property and outlines your rights to appeal.
45-Day Appeal Window
If you disagree with the assessed value, you have the legal right to file an appeal within 45 days of the notice date. This is a critical deadline—missing it means you forfeit your ability to challenge the assessment for that tax year.
Impact on Homestead Exemptions
Fixed Dollar Amount Exemptions
Some homestead exemptions offer a fixed reduction in the assessed value. If your reassessed property value increases significantly, these fixed exemptions may represent a smaller percentage of overall tax savings.
Floating (Value Offset) Exemptions
Fulton County also offers a floating homestead exemption, which can increase annually to offset the impact of rising assessments. The Board of Assessors will automatically apply whichever exemption provides you the greatest benefit if you're eligible.
The Importance of Review and Action
Careful Review
It’s essential for property owners to carefully review the fair market value listed on their assessment notice. Compare it to recent sales of similar homes in your neighborhood. Tools like online real estate websites and the Fulton County Board of Assessors' website can be useful for this purpose.
Gathering Supporting Evidence
If you believe your property is over-assessed, prepare evidence to support your position. This may include:
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Comparable sales (often called "comps")
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Photos showing the condition of your property
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Independent appraisals
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Corrections to errors in the county's property records
Filing an Appeal
Appeals can be filed online, by mail, or in person at the Fulton County Board of Assessors' office. You’ll be asked to select one of three appeal methods:
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Board of Equalization (free, public hearing)
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Arbitration (private appraiser decision)
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Hearing Officer (for high-value residential or commercial properties)
Temporary Tax Bills
While your appeal is pending, you’ll likely receive a temporary tax bill. Georgia law allows this bill to be based on either:
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85% of the newly assessed value, or
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The previous year’s assessed value—whichever is lower.
It’s important to pay this bill on time to avoid penalties and interest. Once your appeal is resolved, your final tax bill will be adjusted accordingly, and you may receive a refund or an additional bill.
Conclusion
Fulton County reassessments can significantly impact property tax bills, particularly when market values are rising. It’s crucial for property owners to understand how reassessments work, pay attention to the annual assessment notice, and take timely action if they believe their property has been overvalued. Being informed and proactive can help ensure that your property is assessed fairly and that you're not paying more in taxes than you should.
