Best things about Atlanta? Urban neighborhoods? (Marietta, Smyrna: insurance, theater, school)

[IntownHomes247]

Originally Posted by christinadq

The talk about property taxes made me start looking at some of the property taxes on real estate listings more carefully. I see in Atlanta several instances where taxes are assessed at one rate but the market rate is much higher. Can anyone explain to me why that might be?

We have homestead and other exemptions here too, but nothing as extreme as assessed at $156,000 and market value according to tax rolls listed at $391,000. That would be a GREAT homestead exemption, if that were the case but I doubt it. The listing I am looking at in this case is in Candler Park. I don't actually think that it would sell for that amount or is actually worth $391K. I suspect it may have been at the height of the boom.

Yes, the assessed value is 40% of the appraised value. That's correct.

Now, there are lots of people appealing appraised values because their homes are no longer worth what they were during the boom. All the Atlanta local governments are also having problems meeting their budgets because of a severe decline in property tax revenues too, so expect property taxes to increase or some alternative revenue source or look to see a decrease in services and amenities.

[oakhurstlauren]

Originally Posted by christinadq

The talk about property taxes made me start looking at some of the property taxes on real estate listings more carefully. I see in Atlanta several instances where taxes are assessed at one rate but the market rate is much higher. Can anyone explain to me why that might be?

We have homestead and other exemptions here too, but nothing as extreme as assessed at $156,000 and market value according to tax rolls listed at $391,000. That would be a GREAT homestead exemption, if that were the case but I doubt it. The listing I am looking at in this case is in Candler Park. I don't actually think that it would sell for that amount or is actually worth $391K. I suspect it may have been at the height of the boom.

Yes Intown homes is right on. Assessed value is 40% of total value. There are no half price houses in Candler Park Most of the areas we have been discussing in this thread have not seen a drop in real estate values the way other parts of Atlanta have and are expensive, although expensive is different for everyone.

[IntownHomes247]

Most of the popular intown neighborhoods have held their value reasonably well, but there are few if any pockets of the city that are actually immune to the decline. There are foreclosures and short sales in every neighborhood and those will continue for the foreseeable future and will almost certainly continue to keep non-distressed property values from stabilizing as well. Basically, there are lots of good deals. Don't get overly attached to any one property because there are still some sellers who are unwilling or unable to accept the lower market value for their homes. Find your favorites and negotiate aggressively to get a really good deal because the chances are still good that over the next 2 to 3 years at least the value of property will continue to sag (although hopefully less and less) before it really starts to stabilize and turn around.

[JPD]

Originally Posted by christinadq

I don't actually think that it would sell for that amount or is actually worth $391K. I suspect it may have been at the height of the boom.

$391,000 is a pretty typical price for a home in Candler Park these days.

[christinadq]

Thank you for the tax explanation. Here, we are assessed at 100% of market value of our home minusw homestead exemptions. So our property taxes are considerably higher than yours. However, we have no state income tax in Texas so it may be a wash in the end. The government has to get their money somehow.

I don't mind an area that has held its value but for instance, the home I was looking at in Candler park was market value assessed at $391K, but on the market for $275K. That's a big difference even there. When a property is sold for less do they adjust the market value on the tax rolls or does that require an appeal process?

[oakhurstlauren]

Originally Posted by christinadq

I don't mind an area that has held its value but for instance, the home I was looking at in Candler park was market value assessed at $391K, but on the market for $275K. That's a big difference even there. When a property is sold for less do they adjust the market value on the tax rolls or does that require an appeal process?

Yes you have to appeal the value.

[waronxmas]

Originally Posted by christinadq

I've also heard Peachtree Corridor or Peachtree City mentioned. Looking on a map, Peachtree City appears to be a community in the south of Atlanta. Is Peachtree Corridor the same area?

Oh no.

The Peachtree Corridor is essentially Peachtree Street as it runs through Buckhead from the edge Midtown at about 25th Street to the city limits 5 miles away. It's a dense nearly continuous stretch of high rises, mid rises, town houses, restaurants, galleries, theaters, clubs, bars, lounges, boutiques, and pretty much anything else you could ever want. It definitely not as walkable as other hoods around the city, is currently only served primarily by bus along the street (there is currrently a MARTA train station in the Financial District though and plans a future streetcar line), and the vibe runs from frenzic to laid back to nothing at all. But I dig it personally. It's not too kid friendly though, and is definitely the domain of DINKs and wealthy singles.

Peachtree City is the exact opposite. I've heard people say life is good down there, but personally it's not for me since I'm not a suburban guy. Plus all of the golf cart trails are kind of weird.

[rcsteiner]

Originally Posted by arjay57

Can't they just go back to their homeland in Lebanon?

Didn't Sappho hail from the Isle of Lesbos?

[arjay57]

Originally Posted by rcsteiner

Didn't Sappho hail from the Isle of Lesbos?

You mean they're not from Lebanon? Then why in the heck do they call them lesbians?

[plessthanpointohfive]

So, i live in Candler Park and I love it here. I like Decatur a whole lot, too. In fact, Decatur Square is less than 3 miles from my house and I can get there by walking, biking, or MARTA, should I wish to. But I can also walk to my own neighborhood's entertainment. I'll go dig up an old post of mine bragging about Candler Park and link it in in just a sec.

The taxes here are as have been described. So, they're not low. I've heard services for your tax dollars are better in Decatur but I really can't complain about the services I've had in City of Atlanta, so take it for what it's worth.

The Mary Lin - Inman - Grady cluster is a really good one. My son is a 4th grader at Lin and we've loved it there. I'm about as excited about him going to Inman Middle as any parent is about middle school. Nobody likes middle school and it's my suspicion that the problem lies in the excessively hormonal nature of middle schoolers. And Grady High is not only an award winning magnet school but it's across the street from Piedmont Park, and who can complain about that?

OK, off to find that post...brb.