Home ownership is a means of acquiring wealth. For generations, Americans have purchased real estate to move up the economic ladder. Yet, along with ownership comes tremendous responsibility. You must keep the yard clean and obey rules set by the neighborhood homeowners association. Most prominently, you have to pay property taxes. In Atlanta, most residents pay taxes to the Fulton County Government.
You might wonder just how the Atlanta property tax stacks up against other major cities. After all, an extremely high rate could affect your decision to buy. A lower rate, in contrast, could entice you and others to relocate. However, be careful. Municipal services depend on a solid tax base. Cities that charge too low of a tax rate often wind up unable to provide basic services. You want property taxes to be reasonable, yet effective. That is what you will find in Atlanta.
Here is the information you need about Atlanta property taxes to make an informed decision about where to purchase a home.
How does Fulton County Compute Atlanta property tax?
It is the responsibility of the Fulton County Tax Commissioner to collect property taxes on most residents of Atlanta. This officer creates the tax bill sent to your registered address. It is then up to you to pay the amount. The Tax Commissioner also distributes taxes to the proper public agencies for approved use.
The Fulton County Tax Assessor does the actual calculation of your taxes. They will look for the appraised value of your home. This amount can change depending on market conditions. It is always best to keep abreast of rises and falls in home prices in your area. Also, be aware that physical additions to your home can increase the value. Building a new room can affect your property taxes.
Atlanta property tax collectors also consider the millage rate set by the government. This figure represents the number per $1,000, that you will have to pay in taxes. In 2014, you had pay $33.19 to the City of Atlanta, plus $12.51 to Fulton County, for a total rate of $45.34. This means that for a $200,000 home, your family could expect to pay around $3,500, in property taxes.
What about Dekalb County residents?
A portion of eastern Atlanta falls in Dekalb County. You will be provided this information when buying your property. If you live in this area, expect a bill from the Dekalb Tax Commissioner in August. If you use the property as a primary residence, then you can apply for an exemption that will lessen the assessed amount.
Druid Hills is a primary Atlanta neighborhood within Dekalb. The area includes Emory University and the Centers for Disease Control and Prevention (CDC). The young professional class flocks to Druid Hills for the lively ambiance; meanwhile, some of the most venerable families still call the location home.
Is the Atlanta Property Tax Fair?
To a degree, the Atlanta property tax compares well against other major cities. One study found much higher tax burdens in Newark ($8,500) and Providence ($6,100). That year, Atlanta fell in at $4,000. In general, you will pay more than the national average, which here was $2,800.
Other Southern cities generally had lower tax assessments than Atlanta. In Florida, Jacksonville residents paid $1,700. Memphis came in at $2,500. Jackson, Mississippi, homeowners did not even crack the $2,000, mark. Meanwhile, citizens of Birmingham averaged a paltry $988 tax bill on their properties.
You should not pack your bags and head off to these other destinations just yet. Atlanta remains the unchallenged “Capital of the New South.” City tax dollars support the bevy of amenities found in the metropolitan area. For example, public transportation is available by the Metropolitan Atlanta Rapid Transit Authority (MARTA) rail and bus lines that cross Fulton and Dekalb Counties.
Other metro counties link their own systems to MARTA for convenience. Atlanta is a modern urban center that attracts, major sporting and entertainment events because business people know that the existing infrastructure can handle large crowds.
Local public schools help educate your children. Maintaining top schools requires money. No other Southern city can compare. It is your tax dollars that support this first-class lifestyle.
Can You Adjust Your Atlanta Property Tax Amount?
The assessed rate may not be the final price you have to pay. There are a couple of ways to adjust a tax bill. First, you will want to apply any exemptions. The Fulton County Homestead Exemption offers tax relief. You have to own the property by January 1 of the filing year. Next, be sure to file by April 1. The Tax Assessor provides details as to who qualifies in a given year. You should always check with the office to know whether you can file a claim.
Second, you may want to appeal your tax bill. Many homeowners file appeals when they believe the assessed value of their property too high. While awaiting a final decision, you will still have to pay taxes. The county government will mail a temporary tax bill to your residence for prompt payment. Any delay will result in additional interest and fines. Once the government decides the merits of your appeal, they will adjust your tax bill. You can expect either a refund or an additional amount due.
Be sure to send your appeal to the appropriate Tax Assessor office before April 1.
What is the Final Analysis?
Obviously, the Atlanta property tax rate assessment is higher than other major cities in the region. In fact, Atlanta homeowners can expect to pay more than the national average, too. Yet, overall, the asking price of Atlanta property is much lower than that of similar lots in the North and West. Moreover, no other Southern city compares to Atlanta in terms of life quality.
In the end, metropolitan Atlanta keeps witnessing record growth because so many transplants recognize the overall value of homeownership in the Georgia capital.
2 Point Highlight
Atlanta remains the unchallenged “Capital of the New South.”
Metropolitan Atlanta keeps witnessing record growth because so many transplants recognize the overall value of homeownership in the Georgia capital.
