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

1. Overpricing Your Property-  It’s natural for a seller to want to get the most money for his or her property. Listing your property too high can cause sellers to get less than they hoped for. Properties that are seen as overpriced early on, can result in later price reductions. Pricing your home too high can prolong the selling process.

2. Not showcasing your Home- Although it’s been said time and time again, sellers most commonly forget the importance of showcasing the property. The goal is to make the home look as pleasant and as inviting as possible. Make necessaryrepairs and ensure that the home is clean. A poorly kept or cluttered home will make it hard for a buyer to become emotionally attached to your property.

3. Over improving your Property- Be careful not to make any additions or upgrades that would make your home stick out from among other homes in the neighborhood. Any upgrades or additions should compliment the community and not make your home appear to be out of place.

4. Not knowing your Competition- This a very common mistake. No matter what you’re trying to sell, you have to know the competition. Your objective is to be slightly better than your most effective competitor. Do your research. Make sure you know how many homes you are competing with.

5. Dishonesty- Don’t stretch the truth. Don’t try to cover up problems hoping that the prospective buyer won’t notice.

6. Choosing the wrong Realtor- Selling your home is one of the most important things you’ll ever do. It’s very important that you select a Realtor that is a good match for you. Experienced agents will be able to bring a higher profit with your house spending less time on the market. Make sure you hire a professional with a proven track record.

SRH Appraisals has a proven track record and would love to assist you with the selling and appraising of your home.  Contact us today at 678-755-9019 or visit our website at www.srhappraisals.com. You can also email us at me@anitaihale.com for additional questions.

Things in the financial markets and the economy are forever changing. It’s enough to make you want to pull your hair out. Everyone’s trying to find ways to cut cost and with good reason. It’s definitely getting tough out there. Because most of the private, public, and corporate wealth is embedded in real estate determination of its value is an essential part to the economic well-being of society.

Appraisals are surveys of properties by a professional for their opinion of the property’s value. The professional opinion of the appraiser, backed by extensive training and knowledge, has a direct influence on the people who own, manage, sell, purchase, invest in, and lend money on the security of real estate. An appraiser is trained to be an impartial third party in the lending process, this professional has a vital role in protecting real estate buyers from overpaying for property as well as ensuring that lenders don’t over lend.