An effort to appease homeowners in Fulton County, who this year complained about dramatic increases in property assessments, might make it even harder to fairly assess property in the future.
And it’s costing Fulton County money millions of dollars.
A report released this week, by the state Department of Audits and Accounts, shows Fulton’s 2016 residential appraisals were nearly 15 percent too low, on average.
Fulton already plans to use those low assessments again, in 2017, rather than raise the value of residential property.
Freezing assessments at a time when residential property values are rising fast could make them even more inaccurate in the future.
The discrepancy is a matter of fairness, and means many Fulton homeowners may be getting a tax break at the expense of others who are assessed at or above the appropriate level – and commercial property owners are likely making up the difference. Additionally, Fulton County residents whose appraised values are closest to market value are likely picking up the freight for residents whose values are lower than they should be.
Fulton County Commission Chairman John Eaves said residents have “been served notice” that values are going to rise next year and in the future.
“The reality is, you’ve been undervalued,” he said.
To read more about the impact of keeping property assessments artificially low, click here to read the full story, only on myAJC.com.
