Georgia: New Property Tax Law Advantageous to Property Owners
Good news for Georgia property owners for the year 2011. Georgia counties must send every property owner an annual Notice of Current Assessment indicating the value of the property. In prior years the counties only sent notices if the appraised values were adjusted. This is a significant change. Previously you could only appeal if you received the notice. Since everyone will now receive the notice, everyone can appeal. In addition, the law also requires the notices are to include an estimate of the property taxes for the current year.
Property owners will have forty-five (45) days to appeal the county's appraisal. Previously it was thirty (30) days.
Some interesting points in the bill you may want to make note of:
•· The year after you buy your house the appraised value cannot exceed the sale price.
•· Counties must treat any open market sales including short sale or bank sale the same as any other sale in determining the property value.
•· Foreclosures are not included in county appraisals.
For further information on appeals one website you can check out is: https://etax.dor.ga.gov/ptd/adm/taxguide/appeals.aspx
Susan Jackson, Associate Broker
Americas Network Realty Group Inc.
Atlanta, Ga. 30338
Direct: 770-551-5852
Email:sjacksonhomes@gmail.com
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