Gwinnett County residents will soon receive their annual property tax assessment, and many will see an increase.
Chief Appraiser Steve Pruitt said 260,000 notices were to be mailed on Friday, April 4.
According to a press release, 75 percent of the county’s 1,645 residential neighborhoods will see an increase in value — to the tune of $2.2 billion in market value — as a result of an improving real estate market.
The county says tax value had decreased for more than 93 percent of Gwinnett residential properties since 2008.
Around 14,000 notices will see a decrease in value this year.
“The declining real estate market and changes to tax law that required selling prices of foreclosed and short sales to be used in the appraisal process have reduced the property digest by 28.5 percent over the past five years,” said Pruitt in the press release. “Now the market has rebounded soundly above the foreclosure and short sale prices of the recent past.”
The notices will include an estimate on the property tax bill for 2014. The actual tax will be determined after tax rates are determined later this year.
Property owners have 45 days from the date of the notice to file an appeal. You can appeal and track the status of the appeal online at www.gwinnett-assessor.com.