When home values fall, so can your property taxes. But sometimes, your tax assessor may be behind the curve. The National Taxpayers Union has estimated that as many as 60% of homes in America are over-assessed. And that was before the current decline in home values.
Comparable homes in your neighborhood may have sold for less than the assessed value of your home.
Your property taxes may be assessed too high. And if they are you can APPEAL THEM.
Deadline for Appeals are coming up soon!!
Deadline for Fulton County is April 1, 2009
For More information regarding Fulton County:www.fultonassessor.org
How to Appeal a Property Tax Assessment:http://www.etax.dor.ga.gov/PTD/adm/taxguide/appeals.aspx#How%20to%20Appeal%20Your%20Tax%20Assessment
Other County Deadline and Contact Information:http://www.etax.dor.ga.gov/PTD/county/index.aspx
Important Fact*** If you are given a reduction in taxes, the county appraiser staff may not recommend a change of assessment for 2 years following the appeal. That is a total of 3 years in possible tax savings.***
For more information See The Appraisal Procedures Manual: http://rules.sos.state.ga.us/docs/560/11/10/09.pdf
Other Things to note…. You must have accurate information to provide the county as to why you should be given a reduction in taxes. Recent comparable sales similar to your home within the subdivision or neighbhorhood would be good information to have to fight your appeal. If there are not any comparable sales similiar to your home within the immediate area you may go outside the neighborhood to find comparable sales.
*Comparable sales or “comp”. Properties like the subject property nearby which have sold recently, used as a basis to determine the fair market value of the subject property
(Don’t Compare a 1,500 home with a 4,000 home 
…)
Where to Find Comparable Sales
*Most counties have this information available online.
*Ask or Pay a Real Estate Agent to pull comparable sales .There are over 45,ooo agents in Georgia, I know you must have a cousin or two running around with a real estate license
*Free Online Resources:
-http://www.Zillow.com
-http://www.realquest.com
In addition to having documentation regarding sales, proof of the decline such as; market trends and/or the actually decline rate will give the county you are appealing to a better picture of the real estate market in your immediate area.
Knowledge is Power… Pass Along….Good Luck!
-Anita
