A little tip on how you can KEEP some of YOUR MONEY!!!  It IS your money in the 1st place.

You can and MUST appeal your Property Taxes in 2009.  It’s pretty safe to say that the value of all homes has dropped during 2008.  The “Fair Market Value” (FMV) is the beginning point for determining property taxes.  The Fair Market Value is “required” to be the real Fair Market Value as of January 1st of the year in which the property tax bill is due.  In many cases, especailly in 2009, the FMV registered with the county will be more than the true FMV.  In order to determine if one should appeal, one needs to know how similar properties were “Valuedâ€�.

A CHECK LIST FOR PROPERTY OWNERS FILING AN APPEAL

1. Once you receive your Assessment Notice check the value proposed versus the FMV and the Value proposed for similar houses in your neighborhood.
2. If you still wish to appeal, you must do so in writing within 45 days of the date of your assessment, which will usually come around March.
3. When your appeal is received, the Board of Assessors (BOA) makes its review and either agrees with your value or establishes a new one.
4. If you are not satisfied with the BOA’s decision, you may choose Arbitration or a Board of Equalization (BOE) hearing. The BOE is a panel of three county taxpayers appointed by your county’s Grand Jury to resolve disputes over property valuation. There is no cost if the BOE is chosen.
5. Your final option is to appeal the case to the County Superior Court.

HOW TO MAKE YOUR APPEAL MORE EFFECTIVE

To make your appeal before the Board of Assessors, the Board of Equalization or through arbitration more effective, you can improve your case with documentation. Here’s how to do it.
• Request a copy of your Property Record Review Document and Comparable Market Worksheet by calling your county’s Assessor’s office and requesting the information via fax; you may also go to the Assessor’s office in person (address provided on your tax assessment) or send a self-addressed, stamped envelope to your county’s Board of Assessors’ office with a letter of request. This free, one page document will describe the essential features of your residential property along with the features of the comparable properties the Assessors office used to determine your FMV. Review it for accuracy. You may request any other residential property record for fifty cents.
• Obtain your own market analysis of comparable properties recently sold in your neighborhood - you can obtain this data via county tax records online.
• Establish property value by providing a recent property appraisal - this is optional and could cost a few hundred dollars, but will certainly add leverage to your case.
• Review the Street Index and Sales Books or your county’s online Tax Records for comparable properties. You should look for properties in your neighborhood with the same quality or construction; similar land size and square feet of living area; number of Bedrooms, basement size, etc. The Street index and Sales Book are generally located in the downtown Government Center.

The data is public knowledge and is there for you to obtain.  This is not a quick process and may drag on for more than a year.  It’s not a continual pain, but you’re dealing with a government-run agency, so just be patient.  Also, remember that if you end up in front of the Assessor and the panel of 3 taxpayers…go prepared.  They’re definitely going to have their argument ready.  Past this point, you may actually need to appear in the County Superior Court (which will cost you a court fee - probably less than $100), but you’ll most likely be contacted by their Attorney and this possibly can be settled out of court (you’re still out the court fee, though - go figure).

Hope this was helpful.  As always, we want to be your trusted resource for everything Atlanta Real Estate, so please let us know if we can help in any way and we wish you the best in your 2009 Property Tax Appeal. 

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“You want to be greedy when others are fearful.  You want to be fearful when others are greedy.”  Warren Buffet
Aaron & Kelly Allen
Real Estate Consultants
Keller Williams Realty Premier Atlanta
3365 Piedmont Rd, Suite 1050
Atlanta, GA 30305
Kelly@KellySellsAtlanta.com
Aaron@KellySellsAtlanta.com
www.KellySellsAtlanta.com
www.KellySellsAtlanta.com/blog

Aaron and I are especially excited about this month’s newsletter.  In it you’ll learn how we know the Atlanta real estate market HAS HIT BOTTOM!  We’ve also included Metro Atlanta’s 3rd Quarter Market Stats (exclusive ONLY to Keller Williams agents, provided by Chuck Carr with Chartmasters Inc).  We’re not trying to paint an unrealistic picture either.  You will see factual graphs and stats that prove Atlanta is at the bottom.

One more thing.  This newsletter is brimming with the most current Atlanta real estate data.  You will not find these numbers anywhere else.  If you know someone who is struggling with a real estate decision or needs honest real estate advice please forward this email to them and encourage them to call us.  Then, hit shoot us an email & tell us about them.

Have a great week & hope you enjoy this portion of our newsletter.  More to come later this week…

 

Boulevard Crossing Park will be located at the intersection of Boulevard and Englewood Avenues just south of Grant Park.  This should bring even more revitalization to this struggling part of Southeast Atlanta.  Currently there is light industrial and commercial on the 21 acres.  The land was assembled by The Trust for Public Land and cost an estimated $9,000.000.

This is just 1 park in the proposed multi-park Beltline project.  As many as 20 are planned for the next 10 years.

The Ellis, formally known as the graffiti-laden eye sore at the corner of Forsyth and Peachtree, is slated to be re-opened this October!  Empty for 20 years The Ellis will get to enjoy its resurgency on the upswing of Downtown’s revitalization movement.  Downtown Atlanta is certainly turning into a hot spot for trendy hotels, mega landmarks such as the Georgia Aquarium and the new World of Coke as well as returning companies looking to cash in on the buzz.

Plans are under way to start demolishing a section of Peachtree Road between Pharr and East Paces Ferry Roads.  This will be the first step towards turning the old Buckhead Village into a Rodeo Drive-like strip complete with luxury retailers ala Saks Fifth Avenue. 

Plans include a hotel, over 300 multi-family units and 350,000 square feet of retail space.  Phase 1 should be completed by November, 2009, says Ben Carter, founder and chairman of Ben Carter Properties LLC.