Commercial real estate investment activity has remained strong throughout the state of Georgia in recent years (particularly in metro Atlanta) before a slowdown in the second half of 2022. Despite a rapid shift in the market, local assessors continue to increase property tax assessments across nearly all sectors. Property owners in Cobb County are seeing an increase of 13% in the overall tax digest, and over 75% of taxpayers in Gwinnett County saw their assessment increase for the 2023 tax year. Many jurisdictions outside the immediate metro area will also be attempting to “catch up” to an inflated opinion of market value when assessment notices are released this year.
Assessment notices are mailed annually to taxpayers beginning in April, with some counties having already issued their 2023 notices, and this will continue on a county-by-county basis through July. The deadline to file an appeal is 45 days from the date of the notice. Most property owners in Gwinnett County will have until May 22 to file an appeal, and commercial property owners in Cobb County will have until June 5. DeKalb County and Fulton County typically release notices closer to May/June. The team at Ryan maintains a real-time calendar of all 159 counties and their corresponding appeal procedures.
To remain competitive in the market, it’s more important than ever to review your property tax assessment notice. Many owners will be caught off guard when receiving their property tax bill this fall, after the window to protest has closed. Please reach out to your local Ryan team in Atlanta to explore how we can assist. Ryan has tremendous exposure, deep knowledge, and the most qualified subject matter experts across the state of Georgia, representing over $73 billion in fair market value.
TECHNICAL INFORMATION CONTACTS:
Brad Wallace
Principal
Ryan
404.942.6346
brad.wallace@ryan.com
Rupam Banerjee
Director
Ryan
404.942.6371
rupam.banerjee@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Brad Wallace
- Property Tax
- Georgia