Changes in 2011 make tax appeal easier

By John Adams

For the AJC

Several major changes have been made to the Georgia property tax appeal process, but they haven't gotten much publicity. These changes may save property owners literally hundreds of dollars in property taxes for years to come, but you need to take action in the next couple of months.

• In years past, all of Georgia's 159 counties allowed property owners until April 1 to file a property tax return, suggesting the actual value of their property on Jan. 1 of that year. That is, all except the "early eight." For reasons unknown, the Legislature set forth eight counties in which property tax returns are due March 1, including metro Atlanta counties DeKalb, Gwinnett, Newton & Hall.

•  In years past, if I wanted to suggest a lowered value of my DeKalb County property, I had to file a form PT-50R with the DeKalb County Tax Assessor on or before March 1. If I did nothing, and the county was not trying to alter my valuation from last year, my value would automatically stay the same.

Not all of the changes for this year are acurately reflected on the Georgia Department of Revenue web site.

Starting this year, all Georgia counties, including the "early eight," will be required to mail an "Annual Assessment Notice" to  all of their taxable real estate property owners every year. And fortunately, that is correct on the web site.

DeKalb says it will likely be mid-May by the time it gets these forms out. After receiving them, property owners will have 45 days to appeal the suggested 2011 valuation from the county.

• In years past, county tax appraisers have been loathe to use foreclosures as comparable sales, preferring to describe them as distress sales and not indicative of typical market behavior. While I agree with that position, recent legislation in Georgia now requires county officials to consider foreclosures and bank sales in their calculations.

Because Fannie Mae also requires this aggressive undervaluation, it is only fair that taxing authorities be required to do the same thing.

To view my video on reducing your property taxes, visit money99.com.

John Adams is an author, broadcaster and investor. He answers real estate questions on radio station WGKA (920am) every Saturday at noon.

For more real estate information or to make a comment, visit www.money99.com.