Georgia's General Assembly has been tinkering with the property tax laws and you need to stay current.
Georgia has a property tax return procedure for real estate much like many other states have strictly for personal property.
In this process you tell the tax assessor what you think your property is worth on the effective date of appraisal, which is January 1 of each year. The property tax return form, PT-50R is shown on the following page. If you do not submit this form to the county where your property is located then you have, in effect, submitted the tax assessor’s prior year value as your estimate of value or “returned value.”
If there have been any changes to your property, such as additions or demolitions, you will report this to your tax assessor’s office on this form. This is a way for the tax assessors to “discover” taxable property. If you get a building or demolition permit this is another way they can “discover” your taxable property value even if you do not submit this form.
In this helpful guide, you will learn:
Daniel Thomas Jones is the managing director of Fair Assessments, LLC
Dan is a valuation professional with expertise in reducing property taxes for real property owners and tenants. Prior experience includes working for two county property tax assessment departments. He was a commercial and residential manager for the Fulton County Board of Tax Assessors, Atlanta, Georgia. His specialized knowledge of the strengths and weaknesses of the mass appraisal property tax process, as well as the ability to relate to the county appraisal staff ensures excellent results for your property tax appeal.
Why should I appeal my tax assessment?
The mass appraisal process used by the tax assessors is unreliable and there is often room for adjustment. Additionally, in Georgia, settling your property tax appeal at a formal hearing caps your taxable value for three years. You may want to do this even if you think the assessor’s market value estimate is reasonable.
Will the county hold this against me?
No the tax assessment appeal process is written in the tax laws of the state and is a right that all taxpayers have. Many people have good reasons to appeal their value and the tax assessment staff understand this.