ATLANTA (AP) - Tax assessors in the metro Atlanta area say an expected onslaught of requests to lower property values could create a domino effect of decreased values for entire communities.
The owners of more than 50,000 properties in Clayton, Cobb,
DeKalb, Fulton and Gwinnett have until Wednesday to file the
requests and thousands are expected to argue that their real estate
values have been reduced by the recession.
But since state law requires uniformity, assessors are being
forced to consider whether they should reset values for entire
communities when one or two residents seek lower values.
Widespread lowering of values mean lower tax collections for
local governments that are already strapped for cash.