Hall County has now mailed residential, commercial, industrial and agriculture property tax assessments, but most land and building owners will not see any change in valuation this year.
The notices are not to be confused with an actual tax bill, but rather are an estimate based on the current assessed value and tax rate approved last year.
In 2014, controversial reassessments drove up taxes on about 90 percent of lakefront properties and prompted more than 5,000 appeals, but these owners were spared this time around.
“It’s not likely that lakefront property values will be increased for 2015, but we certainly will need to review those and all other property types for 2016,” Hall County Chief Tax Assessor Steve Watson told The Times last month.
According to Watson, just 8,649 of 65,573 residential properties will see increases in their assessed value in 2015, with an average net growth of 29 percent.
“There was no need to change most residential property values this year.” Watson said in an email Thursday. “Only about 12 percent saw some sort of increase, while about 1.5 percent went down, which is continued evidence of an improving market.”
However, with commercial land and building values going up, Watson said it was time to specifically review these properties to ensure equity.
“Every year we review property values as a normal part of our duties,” Watson said. “As we see property values fall out of line with what property is selling for, we make whatever adjustments necessary — up or down — to comply with state regulation.”
Of more than 4,200 commercial and industrial properties inspected, about 60 percent will see a significant rise in value this year, Watson said, with an average net increase of 27 percent.
“The other 40 percent stayed within 5 percent of last year’s value or went down,” Watson added.
Property owners have 45 days from the date of notice to appeal their valuation. Information can be found by visiting taxassessor.hallcounty.org or calling 770-531-6720.