| Thomson Reuters senior director Shane Moncrief is preparing us for the lifting of a moratorium. Tax assessors have been operating under it since 2009, stating that tax increases in Georgia are verboten. As of December 2011, not so much. Now, in 2012, the assessors are free to increase values as they see fit—and have. In all fairness, the market is stronger, showing some justification. As a result of all this resetting, values are going up. Clients in Cobb county report property values up almost 10.5% in all sectors, and up up 7.8% in Gwinnett, where most of the changes are coming in the apartment market. Fulton County?s commercial values are up about 11.6%. Shane says that on a landscape basis alone, it's a sea change, but there are some situations where the values are clearly overshooting the going market rate. For more info on our sponsor, click here. |
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