Many Fulton homeowners this year were dismayed when their 2018 Annual Notice of Assessment showed a sudden jump in property value – and thus property taxes. According to the county’s board of assessors residents saw a 25% median increase in home appraisals this year.
Last year a similar spike was thwarted by a ‘tax freeze,’ but state law doesn’t allow for a repeat of that band-aid as state law dictates that assessments must remain close to market value. The problem – tens of thousands of homes may have been incorrectly assessed, leading to the sometimes crippling property tax increases.
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