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No doubt. And the CEO is looking for a property tax increase as well.
 

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More on how counties are doing this:

http://market-ticker.org/akcs-www?post=179351

From the original AJC article:
AJC said:
Last spring, Morris filed suit against the Fulton County Board of Tax Assessors, alleging the county inflated values in scores of neighborhoods by using foreclosures seizures as comparable sales. The seizures, termed credit-bid sales, represent not money changing hands, but unpaid mortgages when a bank takes over a house. He also says appraisers are disregarding valid sales and arbitrarily setting neighborhoods' average prices.
Denninger explains what they are doing:
Denninger said:
The bank puts the property up for auction. But it refuses to take less than the balance owed, because doing so causes an immediate mark-to-market on the property and hits their balance sheet. So it "bids" the entire outstanding balance - in this case, $300,000.

The bank obviously gets the house back. It shouldn't be able to bid at all, as this is not an "arms length" transaction, but the counties don't care. A bid is a bid, even if its a sham bid. The problem is that no money changes hands, because the actual holder of the note did the bidding (the proper way to do this, incidentally, is to set a reserve price and refuse to sell at less.)
Denninger said:
The county folks have been counting this sham transaction as a "sale" for tax purposes. The banks have been counting this sham transaction for balance sheet valuation purposes. The county residents have been getting royally :censored: , as the actual sales that subsequently take place are being ignored as comparables and thus the correct tax base against which property taxes are set.
 

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What kind of proof does one need to show the county your property is over-valued? My taxes in Gwinnett have gone way up.

Anything I need to get from the county in writing before I can file an appeal?
 

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Phil1979 said:
What kind of proof does one need to show the county your property is over-valued? My taxes in Gwinnett have gone way up.

Anything I need to get from the county in writing before I can file an appeal?
It would be nice to hear from someone that has successfully appealed. I've appealed but not successfully. Your tax bill should have information on it what you need to do to file an appeal. Obviously you will need the tax bill. I don't escrow so I pay the taxes separately from my mortgage payment and I've always received a bill in the late spring/early summer. I'll do more research this year and may even consult legal folks before filing.

I appealed mine two years ago. The only good it did was lock my value for two years, but I found out at the CEO's (Burrell Ellis) meeting from quite a few other irritated homeowners that values for tax purposes have continued to go up even as housing prices are still declining. Before, I researched on Zillow.com recent home sales similar to mine, but the market had already started tanking and there weren't many sales to choose from. They threw out most of my comparable properties as not comparable. This time I will probably hire a "certified" appraiser before I file the appeal. If the "certified" appraiser's value is close to the counties then I don't have a case. It was pointed out at the CEO's meeting Dekalb doesn't use certified appraisers. It was also pointed out that not only have tax appraisal values gone up, but they are also looking at raising the millage rate.
 

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This is the story of all property tax, no matter what part of the USA you are in!
 

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Phil1979 said:
What kind of proof does one need to show the county your property is over-valued? My taxes in Gwinnett have gone way up.

Anything I need to get from the county in writing before I can file an appeal?
I successfully appealed my property value last year in Rockdale County.

First, check your county's website for information on how to file a Property Tax Return. Also look up information on the appeals process.

There is a limited time to file a Property Tax Return.

As for proof, you need to find actual sales of homes and property similar to your. The county's website might be of some help here as well. The sale must be from the previous year and must represent fair market value. An appraisal of your property wouldn't hurt, but I'm certain that if your case goes to appeal, the Board of Equalization will have questions about the appraisal so find an appraiser that is willing to represent you in front of the Board.

I hired an appraiser. What I paid her for an appraisal and representation was still less that what I saved on my tax bill.

Here's some additional reading that will help.
Atlanta property taxes: Values fall faster than tax bills
Atlanta property taxes: How to lower your tax bill: Returns and appeals 101
Atlanta property taxes: New law benefits owners
Georgia Code O.C.G.A. § 48-5-352 Determination of fair market value for county and municipal ad valorem property taxation purposes; counties to furnish information relative to fair market value of property (not assessed value, my emphasis)

You can also file an Open Records Request with the County Assessor's office for records that might give you an idea of how successful you will be if you decide to go all the way with your appeal.....they may also tell which appraisers are successful and which are not.
 

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Our property value dropped as well but and our taxes went up a little. We pay Fulton County and City of Roswell taxes and they are outrageous! Our HOA actually wanted our properties re-assessed because they thought the value should be higher. We had to explain to them why that would be a problem and what that would do to our taxes. :screwy:

I am ready to move out of Fulton County all together.

Corey
 
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