To leverage our best in class expertise and bring about the best results - lower tax bills - each time we appeal a property assessment, to maximize our clients savings and positively impact their bottom line.
June 2011
Taxpayers Should Remember New Definitions in Georgia Law - Georgia.
June 2011
Tax Relief for Damaged Property - Tennessee.
March 2011
Revaluation of Real Estate in Charlotte and Mecklenburg County - North Carolina.
"Thank you for successfully getting the fair market value of our building revised and our property tax significantly reduced from the Gwinnett County. You have rendered your services in a very professional and efficient manner. I will certainly recommend your firm to others who need similar services."
Dilip Nawathe
TeleDevices, LLC. Duluth, GA
June 2011
Taxpayers who intend to file property tax appeals for tax year 2011 should be aware of several new key definitions under the law effective January 1, 2011. Amendments to O.C.G.A. ' 48-5-2 provide that arm=s length bona fide sales shall now include distress sales, short sales, bank sales, and sales at public auction; the tax assessor in determining fair market value now must apply, rather than merely consider, bank sales, financial institution-owned sales, distress sales or any combination thereof, of comparable real property. Further, the transaction amount of the most recent arm=s length bona fide sale in any year shall be the maximum allowable fair market value for the next taxable year. These new definitions may prove beneficial for taxpayers owning property within taxing neighborhoods or jurisdictions containing the various forms of distress sales that tax assessors in the past deemed irrelevant. And, of course, any appeals must be filed properly and promptly within 45 days of the date of the notice.
Lisa F. Stuckey
Herbert H. Gray, III
Ragsdale, Beals, Seigler, Patterson & Gray, LLP
Courtsey: American Property Tax Counsel (APTC)