Property taxes are one of the largest recurring expenses for homeowners and business owners alike. Many people assume the bill is fixed and non-negotiable. In reality, property tax on houses and commercial property is based on an assessed value — and that value can be challenged and potentially reduced.
According to a 2022 report from the Georgia Department of Revenue, only about 2 percent of property owners in Georgia appeal their assessments.* With rising costs and economic uncertainty, understanding your assessment and your right to appeal can make a meaningful difference to your bottom line.
What Is a Property Assessment Notice?
Each year, your county sends an Annual Notice of Assessment estimating your property’s fair market value as of Jan. 1 of the current year. This value is used to calculate your property taxes. It is important to note that this is not your tax bill. Think of the Notice of Assessment as your opportunity to review — and challenge — the value assigned to your property.
Timing Is Everything
Assessment notices are typically mailed between late March and early July, depending on the county.** Property owners have 45 days from the date of the notice to file an appeal. Miss the deadline and you forfeit your right to contest the value for that year, so acting quickly is critical.
Why You Should Review Your Assessment
Your property’s assessed value may not always reflect current market conditions. Declining property values, shifts in the local economy, or inaccuracies in property data can all result in an inflated assessment — and an inflated assessment means one thing: you could be paying more in property taxes than you should.
How the Appeal Process Works
If you believe your property is over-assessed, you have the right to appeal. Here is how to begin:
- Review your notice carefully.
- Research comparable properties in your area.
- Evaluate market conditions affecting your property’s value.
- File your appeal with your county assessor, either online or in writing.
Many property owners simply don’t have the time or resources to research market value on their own, and as a result, they lose out on potential savings. Property tax consulting firms can help by analyzing financial and market data and filing appeals on behalf of owners. Many people choose to work with professionals who specialize in property tax appeals to ensure a strong case.
What Happens After You File an Appeal?
Filing an appeal does not pause your tax obligations. You will receive a temporary tax bill, often based on the previous year’s value or a reduced percentage of the current assessment. You must still pay this bill on time to avoid penalties.
Once your appeal is resolved:
- If the value is reduced, you may receive a refund.
- If the value is upheld, your taxes remain unchanged — and you can appeal the following year again.
- In the rare case that the value is increased, you may receive an additional bill.
Why This Matters
Lowering your property tax doesn’t just reduce annual expenses. It can improve cash flow, increase net operating income (NOI) for commercial properties, and enhance market value when it’s time to refinance or sell.
The Bottom Line
Property taxes are not set in stone. The assessment notice you receive each year is your chance to make sure you are not overpaying. Many property owners miss this opportunity simply because they are unaware of the process or fail to act in time.
It is important to review your notice, know your deadline, and take action. A small effort today could mean significant savings tomorrow.
If you are unsure how to evaluate your assessment or file an appeal, consider reaching out to a property tax professional or your local tax assessor’s office for guidance.
*Based on the 2022 Georgia Department of Revenue Appeal Statistics Report. ** Appeal deadlines and procedures may vary by county.
Article submitted by Raj Shah and Deepa Kumar of Property Tax America, an Atlanta-based firm that has assisted property owners across Georgia with property tax consultation and appeals for more than 20 years. Contact: raj@propertytaxamerica.com or deepa@propertytaxamerica.com.