Why the Tax Hike in Columbus
Real estate investors in Columbus, GA, are facing a notable increase in property taxes as the city aims to generate an additional $12 million in revenue. This hike can significantly impact your bottom line, making it crucial to understand the reasons behind this move and how you can manage its effects.
Governor Kemp's 2023 Property Tax Relief Grant
In response to rising property values and tax burdens, Governor Brian Kemp implemented the 2023 Property Tax Relief Grant, which provided substantial relief to property owners in Muscogee County. This grant helped mitigate the impact of rising property taxes, offering much-needed financial relief to both homeowners and investors. However, despite these efforts, the recent tax increase in Columbus reflects the city's ongoing need for additional revenue.
How to Appeal Your Property Taxes Online
For investors feeling the pinch from increased property taxes, appealing your property tax assessment can be a viable solution. Fortunately, the process has been made simpler through the online portal. Here's a straightforward guide to help you navigate the appeals process:
1. Visit the Muscogee County Property Search Website: the County Tax Appraiser, Suzanne Widenhouse, stated at a City Council Meeting on May 23rd, 2023 that her and her team made it easier for home owners and businesses to appeal their property taxes (see the video here and start at two hours and three minutes). Because of the hikes, our take is that they were expecting a large influx of appeals and thus, made it easier for citizens to petition.
2. Search for Your Property: Enter your property information to locate your property details. The city provided a demo video here that’s only three minutes long.
3. File Your Appeal: Submit your written appeal within 45 days of receiving your assessment notice. You must elect one of the following methods for your appeal: Board of Equalization, Hearing Officer, or Arbitration.
Choosing the Right Appeal Method
Understanding the differences between the available appeal methods is crucial for making an informed decision:
1. Board of Equalization (BOE):
- Scope: Any property value, uniformity, taxability, or denial of exemption.
- Process: The BOE hearing is public and allows you to present your case.
- Why Choose: This method is suitable for most property owners who want a straightforward appeal process without the need for a specialized review.
2. Hearing Officer:
- Scope: Non-homestead real property and wireless personal property valued at $500,000 or more.
- Process: The hearing officer conducts a review and renders a decision at the hearing's conclusion.
- Why Choose: Ideal for high-value properties where a detailed review of property valuation and uniformity is required.
3. Arbitration:
- Scope: Any property value disputes.
- Process: If you elect arbitration, skip the BOE and hearing officer steps. You must provide a certified appraisal, and, within 45 days, the Board of Tax Assessors (BTA) must accept or reject your appraisal. If rejected, an arbitrator will be appointed to resolve the dispute.
- Why Choose: Best for those who prefer a potentially faster resolution and are willing to bear the cost of a certified appraisal.
Understand the Different Grounds on Which an Appeal is Based
1. Any Property Value: Focuses on disputing the market value assigned to the property
2. Uniformity: Focuses on whether the property is assessed consistently with similar properties
3. Taxability: Questions whether the property should be subject to property taxes
4. Denial of Exemption: Appeals the denial of a specific tax exemption the property owner believes they qualify for
Final Thoughts
The recent rise in property taxes in Columbus, GA, poses challenges for real estate investors, but understanding the available relief measures and the appeal process can help you manage these changes effectively. By leveraging the online appeal system and choosing the right appeal method, you can potentially reduce your tax burden and protect your investment. Stay informed and proactive to navigate the evolving tax landscape in Muscogee County. Reach out to me at kyle@fifthprincipleproperties.com if you would like to learn more.
コメント