Despite a slumping real estate market, notices hitting mailboxes Friday raise the taxable value of about 57,500 residential properties in Fulton County.
Tax assessors estimate that values will rise on about 18,000 because they are newly created parcels or a home was built on them in the past 12 months. Most of the ones left are going up simply because assessors feel the properties have defied the down market for home sales and have risen in value.
"For many people, values haven't gone down," said Burt Manning, Fulton's chief appraiser. "I say that fully respecting there are places where the values have gone down."
The notices mailed Wednesday by the Fulton County Board of Assessors are in addition to notices mailed last month to owners of about 20,000 commercial properties. Those notices have a 44 percent median increase and have already been challenged by a lawsuit.
Manning said he was still trying to resolve the percentage of increase for the residential properties. He did say most of the properties being increased were in areas such as Buckhead, Alpharetta or Sandy Springs, traditionally top-dollar communities.
Meanwhile, Manning also said Fulton plans to roll back the valuations on about 90,000 other residential properties in reaction to the real estate slump. Those owners will not get notices, nor will they have the ability to appeal, he noted.
Anyone who gets a notice has 45 days from the date on it to contest the value.
Labels: Fulton County, Fulton Properties, Tax Values Risen
# posted by
Brian Vanderhoff @ 7:53 AM
