Friday, January 22, 2010

Homestead Exemption

Homestead Exemptions are available if you owned and occupied your primary residence by January 1st of this year and can result in substantial property tax savings. The filing deadlines vary by county with the earliest being March 1st. We have included the applicable county websites below where you can find instructions to apply.

Fulton County - deadline is April 1, 2010

DeKalb County - deadline is March 1, 2010

Cobb County - deadline is April 1, 2010

Gwinnett County - deadline is March 1, 2010


Tax Appeal Information

The Atlanta Journal & Constitution ran an excellent series of articles on property tax valuations in the various counties of the Atlanta metro area. The AJC's analysis shows that most residential properties in the Atlanta area have experienced declines in value with many areas posting double digit losses. However, the county tax commissioners have been unwilling or unable to adequately reassess the values of these properties, and as a result most of us are paying tax bills that are based on unrealistically high values.

Very few people are aware that if a property tax valuation remains the same as the previous year's bill the owner must file a "Property Tax Return" with their tax assessor's office after January 1, 2010 (deadlines vary) in order the have the right to appeal their 2010 property tax assessment. These forms can be obtained from each of the metro county tax assessor's offices, the links to these offices are above.

If you need help determining your property's fair market value, I would be more than happy to help. I can prepare a Comparative Market Analysis (CMA) report that will aid in getting your tax bill adjusted. Give me a call and maybe we can save you a few dollars.

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