Assessed Values

In Georgia property is assessed at 40% of the fair market value unless otherwise specified by law. (O.C.G.A. § 48-5-7) Property is assessed at the county level. The State Revenue Commissioner is responsible for examining the tax digests of counties in Georgia in order to determine that property is assessed uniformly and equally between and within the counties. (O.C.G.A. § 48-5-340)

The tax bills received by property owners will include both the fair market value and the assessed value of the property. Fair market value means "the amount a knowledgeable buyer would pay for the property and a willing seller would accept for the property at an arm's length, bona fide sale." (O.C.G.A. § 48-5-2)

Property owners that do not agree with the appraised value on their tax bill can file an appeal with the Board of Assessors. (O.C.G.A. § 48-5-311) If no agreement is reached, the appeal is automatically forwarded to the Board of Equalization.