Fulton County Georgia Businesses See Major Tax Hike : The Real Estate Bloggers

Fulton County Georgia Businesses See Major Tax Hike

April 15th, 2008 • Related • Filed Under
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GA-FultonFulton County, Georgia, which encompasses the city of Atlanta is about to raise taxes significantly on many of it’s commercial properties. The median tax increase will be 44 percent, meaning that half of the properties will see increases of more than that.

For those with tenants and a fixed rent this could really hurt ones cash flow. Such a drastic hit to the bottom line will definately have an impact on property values.

Assessors have spent the past 30 days trying to get the word out to business property owners, real estate agents, property managers, tax consultants and others so the figures won’t be so shocking when they arrive in mailboxes as soon as Tuesday.
The numbers are going up so dramatically because Fulton has just completed a two-year, $4.1 million project to revalue every commercial property everywhere in the county, including the 14 municipalities. The county brought in consultants to review the market and update records for the first time in 15 years.
The change is so dramatic that Fulton officials say the tax base, in a county with properties already valued by assessors at $136 billion, should jump about $18 billion from the commercial revaluation alone. via ajc.com.

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There Are 3 Responses So Far. »

  1. Comment by Rob Dawg on 15 April 2008:

    The median tax increase will be 44 percent

    California Prop 13 redux. History hides the truth but it was the businesses that made Prop 13 pass. Even if 44% median increases are justified they are not possible to implement. Trust me.

  2. Comment by Darel on 16 April 2008:

    Fulton County has proposed that it’s own budget is in jeopardy of course the hands of the bureaucrats always seek more cash from it’s citizens. I would suggest that if only 2% of the citizens of Fulton become engaged with the facts this tax hike will end. Here are a few things to consider. In my own city of Roanoke the bureaucrats yelled from the top of the roof that a tax increase was not only nesscarry but required to balance the cities budget. What the corrupt politicians didn’t count on was just one person who understand proposed annual budgets which are paraded before the citizens also has a budget called “Annual Comprehensive Reports” both reports report opposing data. Fulton counties own Annual Comprehensive reports states it has millions upon millions of cash on hand. So if you expose this truth then the need to raise any tax is nothing more then a lie. One thing is for sure both parties have lied to us all…… The same lies can be found with the leadership of either the democrats or the republicans. The only saving grace of our city a few years ago came in a form of no tax increase supported by a limited gov GOP member.

    The bottom line: Check Fulton Counties Annual Comprehensive Reports and challenge the liars running the county. If you present these facts at a local hearing this issue will go away for the next corrupt group of politicians.

    In my city I ran a forecast which was also checked by my accountant and we proposed that if the Annual Compressive Reports cash was used we could send each property owner in my city a check for $1,000 and end all city taxes and the cash would allow our city to fully operate for 15 years without any tax revenue. We also took into account cost of living, equipment lifespan and annual pay raises for city employees. Last year when I was in Manhattan the area of Manhattan alone could send each property owner a check for $2000 and eliminate all city taxes and the city could perform at it’s current level for 10 years without any tax imposed within Manhattan. Now I know what some of you may be thinking “Doesn’t the cash injection also include returned for city employees? The answer is yes but our forecast it based on “open funds” outside of retirement.

  3. Comment by Mo on 18 April 2008:

    The AJC article was talking about assessments.To say the county is raising taxes isn’t entirely accurate. The appraisers have been working to bring the values of the properties up to date, to be accurate fair market values. They are supposed to do it regularly, but Fulton hasn’t done it in 15 years, so the values are way way off. Two years ago they got in big trouble with the state for lack of uniformity and everyone on the Board of Assessors was canned. Now they are trying to get back on track. What the county school board and commissioners decide to do with the new values remains to be seen. The median increase will be in valuations, not tax bills. THe millage rate won’t be set for a few more months. Some people’s tax bills may actually go down a little.

    This will certainly be more revenue for the county and its cities, but its more like everyone has gotten a break all these years, and now the party is over.

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