If you have just received your Gwinnet County property tax bill, you may be wondering how exactly your property tax bill was calculated. What makes the assessor’s office think that your home is worth what they say? What if your neighbor’s nearly identical home is valued at much less, and their property tax bill is lower? There are a lot of questions that come when you get this bill, and they all boil down to: How does the assessor determine the value of your home?
There are many different things that an assessor for a specific county uses to determine the value of your home, and some of them may surprise you. For example, did you know that if you have nice trees in your yard that are healthy and provide shade to your home, it can make your property tax bill higher? This is because your property is valued higher due to the presence of these trees. There are a lot of other things that are considered as well.
Property Description
The first thing the assessor will look at is the description of the property from either the date of last sale, or when the building permit application was filed. They’ll be looking for things such as how many bathrooms you have, the square feet of the home, and anything notable about the property (being on a corner lot, having an ocean view, and so on).
However, some counties are a little strange in the way they count these features. While this doesn’t happen in Gwinnet County, property tax in other counties may be assessed based on how many bathroom fixtures you have, rather than how many bathrooms. So, a bathroom with a his and hers sink could end up counting as double. In Washington, owners of condos have to pay a separate tax bill for their parking spaces, because the parking spaces are considered a separate property. These are just two examples of how things could be counted strangely in certain areas, so be sure to find out how the tax assessor in your area considers property features,
It’s important to note that while you don’t have to allow the assessor to come inside, you should consider it if your home is older and hasn’t had any updates. If you still have a kitchen straight from the 1970s, sans dishwasher, that’s important to let the assessor see. Generally, assessors do assume that older houses have been updated to modern appliances, and that could affect the home’s perceived value.
Comparable Properties
The next thing that will be considered is the sale price of any comparable properties in the area. The value that the assessor is looking for is what you could sell the home for if you decided to put it on the market tomorrow. So, if there are many properties around you that are selling, the assessor will take a look at what they are selling for. But they do look for homes with a similar number of bedrooms and bathrooms, a similar square footage, and similar features. If your house is the only one-bedroom bachelor pad on a block of two-story family homes, be sure to pay attention to this. Your home should be valued lower than the homes around you.
This can get tricky, because there are adjustments made based on the features of homes selling around you, and the features of your home. For example, if a home near you is larger and newer, then your home’s assessed value will be adjusted to a lower amount to reflect this. However, if your home has a better lot with a great view, which the bigger home did not, then your home could have its value assessed a little higher. Assessors balance all of these factors when it comes to considering the comparable properties.
The Area Plays a Part
Beyond the characteristics of your home and the lot, other things that impact your property tax bill include the location of your home. Are you near a desirable school? Close to downtown in an expensive city? Is your neighborhood’s crime rate very low? These things make your property worth more. On the other hand, if you live near a noisy train track, if the closest school to you has a low rating, or if your area is lacking public services like a nearby library, your property value could be a bit lower.
Putting It All Together
The assessor is responsible for putting all of these things together and coming up with a number that represents the value of your home. This is a double-edged sword for many homeowners. First, you want your value to be low enough that your Gwinnet County property tax bill isn’t too high. But second, you want the value to be true, because that affects how much you could sell your house for in the future, and how much you can consider your net worth to be when you add up your assets.
But if you believe that your property was assessed at a rate that is far too high, you can appeal the assessor’s number. The appeals process for property tax in Gwinnet County can be confusing, and it does take quite a lot of time. You have to basically assess your own property, coming up with all the research that shows that the features of your home, the comparable homes around you, and the area you live in, don’t add up to what the assessor says they do.
Contact the Pros for Help
If you are not a property tax professional, this may be daunting. But at Fair Assessments, we can help. We can do all of the research and appeal filing for you, for a low one-time rate. You’ll save hundreds, even thousands, on your tax bill, and get the expert’s help on everything you need. We even attend the hearing with you. Contact us at 404-618-0355 or email info@Fair-Assessments.com today to learn more.
