Here's the very reason why i'm raising this issue, and bringing it to your attention!
Below is a recently renovated property, located at 635 Center Hill Avenue, Atlanta, Georgia 30318. The current listing for sale on this newly renovated property is $217,500.00 after being renovated!
SEE ITS CURRENT LISTING HERE: 635 Center Hill Avenue, Atlanta, Georgia 30318
Now look at the current FULTON COUNTY TAX BILL on this newly renovated property below:
|Property Address||Account Number||Current Fair Market Value||Current Assessed Value|
|635 CENTER HILL AVENUE NORTHWEST||2555246||23,800||9,520|
|City Sales Tax Credit:||$0.00|
|County Sales Tax Credit:||$3.53|
As you clearly see above, this property has a CURRENT FAIR MARKET VALUE of $23,800.00 and a CURRENT ASSESSED VALUE of $9,520.00 and this is including the current renovations on this property!
Now why would anyone want to pay $217,500.00 for a newly renovated property in Northwest Atlanta. That the Fulton County Tax Assessor has assessed at $23,800.00 including its current renovations? I know that I wouldn't, and I wouldn't want any of you too either!
How many years would you have to wait, to see the homes around yours, come even close to your $217,500.00 renovated home, before you feel comfortable with your home purchase?
In closing, potential Atlanta home buyers, DO NOT purchase any homes, RENOVATED OR NOT without checking their CURRENT FAIR MARKET VALUE through the County Tax Assessor's Office.
If you're paying $217,500.00 for a newly renovated, Northwest Atlanta home. Your Tax Bill should reflect your home purchase as well, in the CURRENT FAIR MARKET VALUE section of your Tax Bill!
You should be paying the proper FAIR MARKET VALUE taxes on a $217,500.00 home!
You should NOT be paying the same amount of Property Taxes other homeowners around your property are paying on their "UNRENOVATED" homes!