Home arrow Resources arrow AJC Articles arrow Final Chance to Protest High Property Taxes - 2010-02-21

Latest Information

Lead Based Paint InformationRadio BroadcastsArticle of the WeekGA Real Estate ReportQ & A

Latest News

Your Cart

Show Cart
Your Cart is currently empty.

Login

Final Chance to Protest High Property Taxes - 2010-02-21
FINAL CHANCE TO PROTEST HIGH PROPERTY TAXES

For the last couple of weeks, I have been advising you to consider protesting your property tax valuation. In many areas, county property tax assessments have failed to fall as home values dropped, and the only recourse you have is to file a protest. But this coming week may be your last chance for another year.

Property owners in DeKalb, Hall, Gwinnett and Newton have only until March 1 to request a reduction in property value for tax purposes. Most other Georgia counties allow owners until April 1 to file a "Taxpayers Return of Real Property." The one-page form you need is PT-50R, available for download at money99.com.

Taking action now is especially important for several reasons:

First, it appears now that many values in metro Atlanta hit bottom last fall. Only homes sold and closed prior to January first many be used as comparable sales, and that is exactly what you want. Those are the sales that you want to use as proof of your home's depressed value. A recovery in prices between now and next year may very well undermine your protest.

Second, as county and municipal governments continue to feel the pinch of increased demand for services and decreased revenues from sales taxes, they feel justified in raising the ad valorem tax on real estate. The truth is that the overall tax digest, the total value of all taxable real property in the county, may have shrunk. If your property is overvalued, you are, in effect, subsidizing your neighbors. I expect a record number of protests this year.

And finally, lowered valuations achieved as a result of a taxpayer protest typically remain in effect for three years after the year of change. While there is no law requiring this, it is common practice among tax assessors in Georgia. So if you can catch the bottom now, you may benefit for the next three years, even as the market recovers. And a recovery is already underway.

Remember that it costs you nothing to file a protest, and it only takes a few minutes to do. And you are not required to present your case now. There will be plenty of time for that later. It may be months before you hear back from the assessors office, and you can gather your market data then. But if you fail to protest now, you lose your opportunity for this tax year.

If the county denies your protest, you then appeal the decision to the board of equalization. That's a process we'll cover in a future column.

Statistically, you have a one-in-three chance of getting a reduction. My guess is that a far higher percentage will see success in gaining a drop in valuation this year.
 
< Prev   Next >
[ Back ]

Upcoming Events


 
"EPA CERTIFIED RENOVATOR" TRAINING

Do You Work with Real Estate?  You Must Be LEAD SAFE CERTIFIED as of April 22nd.

To all owners, realtors, investors, property managers, contractors, electricians, plumbers and painters. Do you ever engage in any level of renovation? If so, read this:

Any renovator, from owners to contractors, from plumbers to electricians to painters, who disturbs lead paint while working in a pre-1978 home, school or day care center, now must be Lead-Safe Certified.  If you’re not, you can face tens of thousands of dollars in fines. Plus, you put the health of yourself, your workers and your customers at risk, which could result in lawsuits. One simple 8 hour class certifies you for five years. It’s that easy.

Since April 22, 2010, there are new Federal rules regarding how you perform any work that disturbs lead-based paint in homes, child-care facilities and schools built before 1978.  You now must be EPA certified and follow specific work practices to prevent lead contamination.

Failure to follow the new rules can result in federal fines of up to $32,500 per day or up to 5 years in federal prison, or both. Don’t take a chance - it’s not worth it.

How To Become an EPA Certified Renovator:

In just one day, John Adams will teach you how to meet all EPA requirements and become an “EPA Certified Renovator.”

Don’t wait - register now!  Click on “Seminars” and choose your day!

  • Friday, July 30th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday, August 06th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday,  August 13th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday,  August 20th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.
  • Friday,  August 27th at Suburban Plaza,  2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
    8:30 A.M. to 5:30 P.M.

    Total Course Cost: $295, includes exam and EPA-HUD 400 page manual
    Space is limited to 20 participants.

Training services provided by Seagull Environmental Management Co, Inc.
Courses are approved for purposed of certification under Section 402 of TSCA for the Certified Renovator. 

This course has been approved by the Georgia Real Estate Commission for 7 hours of Real Estate Continuing Education 
 
For more information, call toll-free 888-373-0029
 
Click above on the "Seminars" button to register
 
*************

John Adams Presents

“The MetroVestAtlanta.com REO Bus Tour”

Get on the bus for a tour of South DeKalb County’s “Real Estate Owned” homes. Each house you visit will be available that day for purchase at a giveaway price, regardless of current condition. Financing is available!

Throughout the day, we will hear from mortgage providers, people in the construction business and property managers all discussing today’s situation with Bank Owned REO properties.

Who Should Attend:  Investors, Realtors, Lenders, Prospective Buyers, and anyone who might want to buy a super-bargain house and either do the rehab themselves or have all the work performed by the pros.

You will see abandoned dumps and finished products, and everything in between.  And Snap will be there to answer all your questions and explain the rehab and rental strategies.
 
Saturday, August 21st, 9:30 AM to 4:00 PM
 
Your $49 fee includes the bus tour and lunch.  You must make reservations.  No walk-ups.
 
There is limited seating and the seats are filling fast. ACT NOW before you miss the bus.
 
We will be meeting at Suburban Plaza, 2643 N. Decatur Road and Church Street, Lower Level, Decatur 30033 (beneath Hancock Fabrics, in the arcade.) 

To register, click HERE
Supported by 3by400.com, a Dahlonega north Georgia web design team using Joomla