Friday, October 19, 2001
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Friday, October 19, 2001 |
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Property values soar as appraisal notices arrive By JOHN
THOMPSON
Many Coweta County residents got sticker shock when they opened their mail this week. Residents received reappraisal notices on their property this week and many noticed the value had skyrocketed. The reappraisal notices are the result of a state-mandated process designed to keep property values current throughout Georgia. Public Information Officer Tom Corker said the last countywide reappraisal took place in 1991 and while there have been updated values issued for various segments of the county since that time in order to keep within state guidelines a countywide reappraisal was needed to bring all properties to an equal level. He added that property owners need to remember that the reappraisal does not just reflect just a one-year change but a ten-year increase in value. The Coweta County Tax Assessors' Office now has the programs in place that will allow more frequent updates in valuation thereby allowing any future changes to be more gradual. The reappraisal notices sent to property owners contain the 100 percent fair market value and a 40 percent valuation. Millage rates are set according to that 40 percent valuation figure, not the 100 percent value. The Coweta County Board of Commissioners has already voted to roll back millage rates to match the rate of increase resulting from the reappraisal on the county millage rate and has challenged the Board of Education to do likewise on the school system millage rate. Everyone is encouraged to call the tax assessors' office to make an appointment if they need to discuss their reappraisal. The tax assessors' office reminds property owners that the reappraisal notice is not a tax bill, only a reflection of the fair market value of their property and that an increase in value does not always mean an increase in taxes. The tax assessors' office asks property owners to ask these questions when they receive their notices: Would you sell your property for this amount if you were to sell? What is your home insured for? Remember: appraised value includes land, insurance does not. Have any properties in your area sold lately and how do those sales compare to your appraised value? Letters requesting an appeal of appraisals should be mailed to the Coweta County Tax Assessors' Office, 37 Perry Street, Newnan, GA 30263 and must be postmarked by November 25th. Be sure to include your name, address and telephone number so the tax assessors' office can contact you to set up an appointment. The letter should include a statement of why you are appealing so that the office can check into that particular problem. Please remember that appraisals cannot be appealed because of taxes. Appraisals can be appealed for: Value. Equality. Taxability. Denial of exemptions. If you have any questions, you can call 770-254-2680. The tax assessors' office asks for your understanding because call volume is expected to be heavy and you may experience some delay when trying to contact the office by phone.
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