What will your property be worth?

Tue, 04/21/2009 - 3:31pm
By: Ben Nelms

Fayette property values ‘weathered the storm’ better than most in metro, says assessor

By BEN NELMS

bnelms@TheCitizen.com

Property tax notices are getting closer to your mailboxes. The question on the minds of many is whether the county’s assessment values will increase or decrease.

Fayette County Tax Assessor Joel Benton said Monday there will likely be no significant change from last year’s gross digest of $5.7 billion.

While not attempting to forecast whether the tax digest due in August will go up or down, Benton said that only minor construction activity was evidenced in 2008, upon which the 2009 digest is based.

He added that home sale values in Fayette retained a better fair market value than in many other areas in metro Atlanta. Whatever the change in the digest may be, it will likely not be a large fluctuation from last year, he said.

“The only increase will be new construction and additions, and that’s not a lot,” Benton said. “After reviewing the fair market sales, our value looks pretty good. Fayette has been a little more protected given the sales we’ve seen and we haven’t been as affected (by declining home values) as some of the metro counties. Fayette County weathered this storm better than most others in 2008.”

Asked if his office had been contacted by the cities, county and school board for which the tax digest is critical to budget discussions, Benton said he has received general questions about how things are looking, with tax levying entities wondering if there will be much difference over last year.

Noting the “return of value” filed by approximately 3,500 property owners over concerns that their property had decreased in value, Benton said the considerations of those filings by assessors are on track to be completed by early May. Benton said property tax notices should be going out on schedule in May, with the anticipation that the tax digest will be approved by the first week in August.

Explaining the process, Benton said if property owners that submitted the “return of value” do not agree with assessor’s opinion they have the right to file an appeal. If not satisfied with that decision they can appeal to the Board of Equalization. If still not in agreement they can have their case heard in Superior Court.

Asked about the upcoming tax digest, school Superintendent John DeCotis said Monday his office had called the tax assessor’s office and was in a wait-and-see mode. DeCotis said he expected the digest to decrease this year, though he did not speculate about the extent of the decrease.

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Submitted by mysteryman on Fri, 04/24/2009 - 7:32pm.

Quashe says she paid $49.970 for the foreclosure. I did not thnk that was possible for single famly home Fayette County.... But hey Benton says its allgood... Yeah like Mcdonalds im lovin it.....PEACE.. Welcome to da hood......Stay Strap........

Submitted by AtHomeGym on Thu, 04/23/2009 - 8:25am.

Here's a current example for you.
House next door to me was foreclosed. Current property tax record says that Total Market Value is $367,890. House is on the market by SouthernReo listed at $228,000. Do the math!

MajorMike's picture
Submitted by MajorMike on Wed, 04/22/2009 - 3:30pm.

I called the assessors office in December to find out about reassessment and was told that the houses in my neighborhood in PTC were selling for about what they sold for a year ago ($225K to $297K) so my tax bill would be about the same and there was no need for reassessment. In February I found out about a house down the street from me that sold for $160K and the owner said he was glad to get that much! He had more house than I do! I filed for reassessment at 33.3% less than the county valuation.

Is the Assessors Office trying to bluff their way trough this crisis? Looking at the appeal process, it is pure beauracratic stonewalling up until the point that you have to take it to superior court and spend more money that you would save.

Are they banking on the fact that most people do not have access to the MLS and therefore are at a disadvantage when it comes to knowing which houses have been selling for what in a specific neighborhood. It helps to have a Realtor friend.

I wonder if 3500 signatures on a class action suit would be successful.


Submitted by MacTheKnife on Wed, 04/22/2009 - 8:35am.

Wow great news: The tax assessor thinks our properties are still worth quite a lot and have retained value despite all of the real estate and economic instability. Oh, and the school system going to hell at an alarming rate.

Wow, lucky for him he can assess us a rate similar to what he has been assessing property at in the past. How did we get so lucky?

What a shocker.

Gene61's picture
Submitted by Gene61 on Wed, 04/22/2009 - 1:23am.

ah, the wait and see line.... Good kuck, I think the FCBOE is hoping the fair value will reamin the same, hince they can look for more ways to dig their way of the debit spending FCBOE has engaged in for far too long...

More space than kids, and now its costing Teachers and Stsff,, How much longer will it take to see one the best school districts to fall out of fair with people who moved to this county because our schools are the best.


Submitted by mysteryman on Tue, 04/21/2009 - 7:47pm.

End of story. Good luck on your reassesment.....PEACE...

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