February 2009 Issue

    INSIGHT

    BATTLING UNFAIR PROPERTY TAXES

    by Patrick Anderson

    In a time when property values are dropping like never before, it may be shocking to learn that the tax assessor can easily pin
    you with last year's value and, unless you take action before April 1, you will have no right to appeal.

    The Georgia tax code requires that property owners file Form PT-50R Property Tax Return every year. Surprised? Most people
    have never filed one. No problem, though ... the code also provides that if you don't file PT-50R, you are deemed to have filed
    at the same value as the last year. That's usually OK since property values historically increase from one year to the next.

    However, in a declining real estate market, you SHOULD file Form PT-50R. If you don't, you are telling the county that you
    believe your value is the same as the prior year. The Tax Appraiser is not likely to disagree in this instance, especially if they
    are overworked and understaffed. AND unless they change your value, you have no right to appeal.

    Remember, by not filing PT-50R, you have told them that you believe this year's value is the same as last year's.

    Filing Form PT-50R forces the Tax Appraisal Office to look at your fair market value. If they agree with the value you put on
    your return, great! You've saved money. If they disagree with the value you put on Form PT-50-R, they will send you an
    assessment letter with a different value. THAT is what triggers your appeal right.

    Most property owners don't know have a clue about this little intricacy of our property tax code. And as such, many are in
    jeopardy of getting saddled with last year's tax value and no appeal rights, unless they take action before April 1.

    WHAT TO DO

    If you believe your value has decreased since January 1, 2008, and if you are not otherwise protected by homestead
    exemption, you may wish to file a 2009 Property Tax Return before the April 1 deadline. You can download Form PT-50R
    from the  Georgia Department of Revenue website at http://www.etax.dor.ga.gov/ptd/adm/forms/pt.aspx

    Read more about Glynn County property taxes at the bottom of our Islander news story "Glynn Feeling Budget Crunch" in
    this issue.

    You can obtain further information on property tax matters from your accountant, or by contacting Patrick Anderson &
    Associates, Inc. The firm specializes in property tax strategy and represents many local and out of town owners in Glynn
    County property tax appeals.
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