DeKalb County’s tax digest dropped about $517 million dollars, according to preliminary property values released Tuesday.
County commissioners said the figures are preliminary and they expect the decrease will be even higher.
“It’s great news if it works out that way,” Commissioner Lee May said Tuesday. “But these are just preliminary. I want to see the real numbers.”
The county is still waiting on property re-assessments to be finalized, but initial reports show the 2010 tax digest is valued at $24.1 billion. Last year’s digest was valued at $24.6 billion, according to tax assessor records.
The county brought in about $235 million in new construction, which offset the drop in values. About 40 percent of that new development was in Dunwoody, records show.
“It’s not as drastic as we anticipated,” Tax Assessor Calvin Hicks told commissioners about the decrease. “That's a 2-3 percent erosion in the tax digest. We thought it was 7-8 percent.”
In February, Hicks said he anticipated the digest would drop 6.7 percent, bringing the county’s budget shortfall in this year’s budget to $100 million.
Assessment notices are scheduled to be mailed on Friday.
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