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Property Taxes in Georgia - reformed

By
Real Estate Agent with Renaissance Realty Group of Keller Williams Atlanta Partners

I was recently asked about the  property tax appeal process, I thought it be a good time to once again outline Senate Bill 346

 

The Governor signed Senate Bill 346, the comprehensive tax reform bill, on June 4, 2010. The major provisions of this bill are outlined below:

 

  • Requires annual assessment notices sent to all properties Authorizes the creation of regional boards of equalization
  • Requires an estimate of the tax liability on the assessment notice
  • Requires DOR to create a uniform appeal form
  • Requires members of the Boards of Equalization (BOE) to take a written oath of duty
  • Requires the BOE to render a decision on an appeal within 12 months of receiving an appeal if no extensions are granted Gives the Superior Court Clerk responsibility for oversight of the BOE Grants appeal rights to a new property owner who makes a purchase before assessment notices are sent
  • Requires DOR to update their training for tax officials and make it available online Authorizes non-homestead properties exceeding $1 million in value to have their appeal heard by a licensed appraiser instead of the BOE
  • Eliminates the non-binding arbitration appeal option
  • Makes the real property tax return optional
  • Defines "arm's length, bona fide sale" and "distress sale"
  • Requires the sale price to be used as the fair market value in the year following the sale
  • Exempts counties from the 1/4 mill recovery and $5 parcel penalties during the assessment increase moratorium
  • Includes the property tax paid to other governments when making refunds
  • Authorizes installment billings
  • Clarifies that only the maintenance and operations millage rate is used for purposes of calculating the rollback rate under Taxpayer Bill of Rights.
  • Eliminates the 3% and 5% threshold for appeals to get the county digest approved
  • Authorizes the Board of Tax Assessors (BOA) to correct factual errors in the tax digest within 3 years

Additional Information Georgia Department of Revenue Overview of SB 346 (pdf)

 

Posted by

If you or someone you know is thinking of buying or selling a home have them give me a call .. we will get it done ...right 

Eric Reid 

Associate Broker

Keller Williams Atlatna Partners
Team Leader 
Renaissance Realty Group

Comments (1)

Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Eric, this looks like what happens when some sort of board of review or legislative board goes crazy.  Is all of this necessary and beneficial, and does it benefit the common good, and not just homeowners or property owners ?  Property taxes are a valid tax, and should partially be used to pay for things that affect the property owner... and are a benefit to and for that owner.

To remove or greatly lessen that tax, except in special circumstances like the elderly, would not necessarily be a good thing.

Mar 23, 2011 02:30 PM