The Atlanta Journal-Constitution publishes part 4 of its special investigation "Property Tax Meltdown" on Wednesday. The latest installment examines the tremendous losses in real estate in south DeKalb County, where homeowners in a single ZIP code lost more than $310 million in value.
The AJC analyzed all property tax revaluations in the five largest metro counties, comparing the new appraisals in more than 120 ZIP codes with actual home sales in those ZIP codes. The newspaper found that, of the 10 ZIP codes with the highest aggregate losses in value, seven were in DeKalb.
The paper has also shown that, since the historic collapse in real estate, thousands of tax appraisals may be higher than the property is actually worth.
In DeKalb ZIP code 30032, for example, the median decline in appraised value was 21 percent, while the median decline in sales prices was 46 percent.
Read the first three parts of Property Tax Meltdown.
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Credit: Jess Rapfogel/AP