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Old Yesterday, 06:33 AM
 
2,146 posts, read 2,156,717 times
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Quote:
Originally Posted by Forhall View Post
Yes, but the cap is low and the values are reset to 2016, which was when Fulton had been not keeping up with assessments and most were undervalued. The result means there will be people in million dollar homes paying half or less the property tax of someone in a 500k home next door just because they bought their house before 2016 and the base property tax is frozen from 2016. Could also make people be unwilling to move within the city as they don't want to reset their cap. Further, Atlanta is DeKalb and Fulton. DeKalb has no such cap. If Atlanta raises millage rates to compensate for lower frozen assessments in Fulton, DeKalb residents will be paying through the nose.
I *think* it applies to Dekalb as well. At least the language on the ballot never mentioned counties by name. The way it read made it sound like it could/would apply to either county inside the city limits. The bill itself does not mention either county by name.

Quote:
Do you approve a new homestead exemption in a municipal corporation that is located in more than one county, that levies a sales tax for the purposes of a metropolitan area system of public transportation, and that has within its boundaries an independent school system, from ad valorem taxes for municipal purposes in the amount of the difference between the current year assessed value of a home and the adjusted base year value, provided that the lowest base year value will be adjusted yearly by 2.6 percent?”

Last edited by red92s; Yesterday at 06:44 AM..
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Old Yesterday, 08:00 AM
 
922 posts, read 380,114 times
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Fulton lowered property taxes 3% for this tax year.



Yes the new policy could make it less likely for people to sell which could potentially cause problems
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Old Today, 10:31 AM
 
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Quote:
Originally Posted by ronricks View Post
Fulton lowered property taxes 3% for this tax year.



Yes the new policy could make it less likely for people to sell which could potentially cause problems
If people are refusing to sell they must have other reasons than a few hundred in property tax savings? They could move to Forsyth or other surrounding counties and save a lot more.
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