Gwinnett county's chief appraiser, Steve Pruitt, said Gwinnett County property owners should soon receive the official property value assessments. About 257,000 residential and 14,000 commercial annual notices of current assessment were mailed on April 6.
According to a press release, about 80,000 of the residential notices will show a decrease in value. The decreases average about 22 percent, the sum of which totals a decrease in about $2.5 billion in residential market value.
In the case of commercial properties, more than 300 properties received increases in value totaling almost $625 million in market value. In addition, about $400 million in market value was assessed in new property growth, which was almost equally split between residential and commercial properties.
Officials said the county had planned for an 8.3 percent decrease for both residential and commercial, which would be equal to $2.1 billion of taxable value, when the 2012 budget was adopted. County officials remain "cautiously optimistic" that this will align with actual results once all the appeals have been dealt with.
Property owners have 45 days from the date of the notice to file an appeal. This can be done on the statewide uniform appeal form (PT311A). The deadline to file this appeal is May 21. This can be done by mail or in person.
Information is available on the tax assessors' website at www.gwinnett-assessors.com. Taxpayers also can track the appeal online. A reduction in assessed value reduces the homeowner's property tax bill. However, officials point out it also reduces the revenue available to fund county operations.
Questions on these assessments can be submitted by email to firstname.lastname@example.org, by phone at 770-822-7200 or in person at the .