Archive for the ‘Property Tax Assessments and Appeals’ Category

Georgia Supreme Court Revives Fulton County Taxpayers Foundation Lawsuit

The Georgia Supreme Court overturned a lower court’s dismissal of the Fulton County Taxpayers Foundation‘s legal challenge to tax breaks granted by the County to six large developments in Buckhead and Midtown that include The St. Regis Buckhead, The InterContinental Buckhead and The Mandarin Oriental Hotel Midtown.

The Fulton County Board of Assessors assigned to these development projects a “50 percent valuation formula” to determine the fair market value of the property.  Under the formula, the board agrees to initially value the estate at 50 percent of its overall fair market value and then increase the value by 5 percent a year over the value of the lease.

The lawsuit alleges that this valuation formula is unconstitutional and illegal because it allows the developers to pay less than their fair share of property taxes because the estates were initially appraised at less than fair market value.

The trial court had dismissed the lawsuit without hearing any evidence.  The case now proceeds to trial.

You can find a copy of the Court’s decision here.

Seven Tips to Challenge Your Property Tax Assessment

Seven great tips from changeofaddress.org for challenging your property assessments.

The attorneys of Williams Teusink Larsen can help you evaluate and challenge your property tax assessment.

Fulton County Valuing Property At What Owed, Not Necessarily Its Fair Market Value

Foreclosures, short sales, declining values cause the fair market value of a property to sometimes fall below what the owner owes the bank.  Even though the property owner is under water or upside down with the mortgage greater that the property is now worth, the property owner may not get any relief from the tax assessor. 

Fulton County continues to consider the amount of the mortgage in assessing a property’s valuation for tax purposes resulting in valuations sometime double the fair market value of the property. 

Property owners have options and can appeal.  Contact GZB and the law firm of Williams Teusink Larsen to learn more.