Union Reappraising Land and Homes Values Per State Guidelines

Blairsville, Ga – Union County to begin reappraising property values due to sales of homes and property far outpacing actual lvalue with assistance from an outside organization.

Georgia Mass Appraisal Solutions (GMASS) and Union County entered into a contract for the organization to handle the bulk of the reappraisals for $620,000 and went into effect on April 24, 2019.

“GMASS will provide Union County updated pricing schedules and inventories of real property by performing field inspections of all properties in the county,” Commissioner Lamar Paris explained.

Paris outlined the reasoning for reappraising 22,000 land parcels, citing county falling behind in the state set sales ratio of 40.

The appraisal office staff will remain the same size with maybe one additional hire. The reappraisal will ensure everyone pays their fair share in property taxes. However, it does not affect the actual property tax going up or down, but the millage rate.

Paris clarified, “Usually, the millage rate will decrease once values are reappraised, and values are low like they are now. If they raise your value, that means the millage rate should drop because we’ll need X number of tax dollars, whether we have a reappraisal or whether we don’t.”

Each year Georgia conducts a sales ratio study across each county, which compares the appraised/assessed value of a property. If a home’s appraised for $100,000, then it’s assessed for $40,000. The $40,000 represents the taxed amount.

In other words, the assessed value bases property taxes on the 40 percent.
A sales ratio of 40 percent is considered fine by the state. Once it starts dropping below, then the state begins penalizing counties.

“For the past few years, sales of homes and property in many cases is far outpacing the appraised value,” Paris stated, “when we had the recession everything was good as far as our appraisals go, really all the way up to 2015.”

For two years, Union County’s sales ratio was 37.8 percent, which triggers a levy on property taxes on utilities. Right now, Union can’t receive $30,00-$40,000 from power companies because of the low sales ratio.

2003 marked the last time Union County underwent the reappraisal process. It takes two years minimum, so the tax year of 2021 should have everything assessed.

“In 2015, our ratio was 40.6 percent, and in 2018, it was down to 37.8, and we anticipate it to be lower next year,” stated Paris.