BLAIRSVILLE, Ga. – At the March 28 Union County Board of Assessors (BOA) meeting, Chief Appraiser and BOA Chairperson Susie Phillips reported sales for ratio had been submitted to the Georgia Department of Revenue (DOR) audit department March 9.
“I don’t know what the ratio is going to be,” Phillips told board members Jeff Carlin and Jack Parker. “It’s just all over the place.”
To determine a ratio for a county, the state DOR randomly selects a certain number of property sales from a year’s worth of sales in a county and divides the 40 percent assessed value of a property by the price for which a property recently sold. The number achieved in this equation determines the ratio, and the state sets the standard for ratios to fall between 36 and 44. Through reassessments of properties, a county tax assessors office can help control its annual ratio number to fall in line with this range during periods of spikes or declines in the market.
According to Phillips, part of the reason for the uncertainty this year is the increase in the housing market in the region. Phillips suggested because the price of building materials has increased, some prospective home owners may be looking to buy built homes as opposed to building a new home.
Phillips further explained she had recently spoken to a representative from the DOR audit department who told her all counties in north Georgia were experiencing similar issues in regard to the ratio. She also told Carlin and Parker if the ratio does not fall within the 36 to 44 range, the department can submit an appeal to the DOR.
Later in the meeting, Phillips announced Union County will receive a new field representative from the DOR. Rusty Scoven will replace the former representative Grant Hilton as the state DOR local government services agent.
In the building permits report, Phillips stated 14 residential permits were issued in February with four permits issued for speculative homes, two permits issued for mobile homes and 38 issued for miscellaneous. Also in February, 431 building inspections took place, up 79 more than in January, according to Phillips.
The next Union County Board of Assessors meeting is scheduled for Wednesday, April 25, at 1 p.m. in the grand jury room of the Union County Courthouse.
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