Tax Assessors Soon Able to Increase Property Values

For the first time in four years local tax assessors will have the option to increase property values. The higher property valuations would mean higher property taxes for affected homeowners. Although the overall real estate market has been in decline in metro-Atlanta for several years, some neighborhoods in Fulton and DeKalb counties have seen property appreciations. The actual number of affected homeowners is unknown, though assessors say increased valuations would be the minority. Lawmakers have proposed several bills which would eliminate or curb property valuation increases including; an extension of the moratorium on increasing property values and a limit on the percentage increase a property could face in any given year.


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