State Senator Chip Pearson has issued a press release to clarify just who is to blame for a significant jump in property tax bills this year. His publication exposes a primary problem with Georgia’s property tax code—state legislators who do not know what in the hell they are talking about.
[The following was sent to the author of the Atlanta Journal-Constitution article here.]
What DeKalb did appears to be exactly CORRECT…. at least, if your interest is in fairly valuing property.
The consideration of foreclosures and other distressed sales does not produce a true market value; it does not contribute to equity and fairness in property taxation.
SB-55 not withstanding, DeKalb did the right thing when it considered available Fair Market Value sales over, or instead of, distressed sales in its valuation of property.
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