I just got my tax assessment in the mail, showing no change from previous years despite the soft real estate market. And I know the game; I think I've filed a formal appeal twice in the last 30 years, successfully.
The assessment board will ask me questions like, "Well, would you sell your house for the assessed value?" I'll say no. And then they'd tell me how there aren't really any comps nearby, or that it's not that prices are down, just that houses aren't selling, etc. And when it's all said and done — well, as they say, more is said than done so I'll probably leave it alone again.
But then I come into work recently and one of the first articles I read is one from CNBC, titled "America's Biggest Double-Dip Real Estate Markets." Guess who is numero uno on their list, complete with stats and a picture of city hall?
1. Gainesville, Georgia: Pre-dip run-up: 10.6 percent; Fall since last peak: -18.8 percent; Compared to pre-run-up low: - 10.1 percent; Prices falling since: July 2010; Run-up length: seven months; ZHVI High: $133,944; ZHVI Low: $108,801
I may be too worn out to appeal mine, but I encourage those of you with more energy to appeal yours. Good luck.