I'm guessing that's what quite a few folks were thinking when they received their tax re-evaluations. For the most part, tax values across Forsyth county plummeted as a result of the mandatory county re-evaluation. The county cited foreclosures and the overall declining market as the driving force behind these new tax values.
Note, I keep saying TAX values. These are not the market values of homes. The market value is a simple equation. It is the value that a buyer is willing to give and a seller is willing to take in the present market. That takes into account inventory, condition, location and terms. Tax values on the other hand are based on formulas and algorithms and tax assessors typically have never entered the property being assessed to view condition or true space. Tax values are placed on the home for the sole purpose of collecting taxes on the real property.
Certainly you can challenge these values, but first you must assess WHY you want to challenge the value. Is it because you WANT to pay more taxes? Is it because you don't fully understand market value vs. tax value? Was their a mistake on the tax record that you feel compelled to correct? Understanding why you challenge is the first step in figuring out IF you challenge.
If you would like to discuss your specific situation or have further questions, please don't hesitate to give me a call or shoot me an email and I'll do my best to advise a course of action that is best suited to your specific situation.
Just think, another type of TAX deadline is just around the corner...Until then...
Brooke
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