Alex,
Thank you for putting this together. Previously all I had to go on were the
local news media hype and we all know how accurate that is. At least this
increase isn't as bad as the one from 2014 to 2015 when my taxes tripled
without notice.
Jeff Stevens
From: Alex Agle <alex@xxxxxxxxx>
To: highland-discuss@xxxxxxxxxxxxx
Sent: Monday, May 29, 2017 2:04 PM
Subject: [highland-discuss] 2017 Property Tax Assessments
I risk being the bearer of bad news, but the news is better than I
expected.
I just found out that this year's property tax assessments are available
online. The property valuations did not change last year, and I was
worried that we would have a huge jump in valuations this year. During
the second half of last year, sales prices really began to rise with one
sale being close to $290k. Fortunately, the new valuations are about
10% lower than I was expecting.
2 Bedroom Double Wide Units
Total Value in 2015 & 2016 = $182,600
Current Total Value = $230,600 (26.3% increase)
Difference = $48,000
Assessed Value Difference = $19,200
Approximate additional tax due this year = $864 or $72/month
2 Bedroom Units w/Home Office
Total Value in 2015 & 2016 = $180,000
Current Total Value = $227,700 (26.5% increase)
Difference = $47,700
Assessed Value Difference = $19,080
Approximate additional tax due this year = $858.60 or $71.55/month
2 Bedroom Standard Units
Total Value in 2015 & 2016 = $176,600
Current Total Value = $223,200 (26.4% increase)
Difference = $46,600
Assessed Value Difference = $18,640
Approximate additional tax due this year = $838.80 or $69.90/month
1 Bedroom Units
Total Value in 2015 & 2016 = $131,700
Current Total Value = $167,200 (26.7% increase)
Difference = $35,500
Assessed Value Difference = $14,200
Approximate additional tax due this year = $639.00 or $53.25/month
These are typical valuations, and your individual unit valuation could
vary based on a recent sale or other criteria.
For anyone curious about the process, Fulton county is supposed to
appraise our properties each year. They neglected to increase
residential valuations last year, so that means a more drastic increase
this year. Old Fourth Ward is a hot neighborhood, which is causing our
property values to rise. This is a good problem to have, but it means
higher property taxes. The median valuation increase in the county is
13%. Properties closer to the Beltline are seeing higher increases.
We pay property taxes based on 40% of the value of our property, so the
assessed value difference is 40% of the difference. I then divide the
assessed value difference by 1,000 and multiply by 45 to calculate the
approximate additional tax due. In years past, this has given me a good
ballpark value of how much the tax bill will increase.
Alex
--
Alex Agle
alex@xxxxxxxxx
C 404-229-3325
W 404-894-6165
