Dekalb County Property Valuations

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Dekalb County has seen a slide in home prices in many areas of the County. The prices are starting to stabilize in many parts of South Dekalb.

However, on the North Side and some pockets of the South Side of the County values continue to fall.

In Dekalb County property values have historically been higher on the North Side of the County. The south side of the county has lower priced homes and the values have already fallen substantially—and in many cases have bottomed out.

Many on the north side of Dekalb County are renting their house out—as opposed to selling for minimal profit—or at a loss.

According to the AJC (Atlanta Journal Constitution—12/23/2011), property taxes in in the metro Atlanta area showed Dekalb county properties were overvalued on the typical residential property by 10% in 2011.

In South Dekalb the values are somewhat stable, however the properties on the north side continue to slide.

Dekalb property valuations have improve since 2010—as the values were overvalued in that year by 25% according to the AJC.

The County is slightly better at assessing values than Cobb and Gwinnet Counties—which the AJC discovered were 13 and 16 percent overvalued.

The worst offender in overvaluing properties (11 Counties evaluated by the AJC) was Douglas county, which valued homes 37% more than their sales price.

Cherokee and Forsyth Counties were the best, coming in at just 3% over.

Anytime the appraisal is higher than the value of a house, a homeowner would pay too much in property taxes.

The State of Georgia’s goal is that every County’s assessments average should be within 10% of market value.

Dekalb went from having the lowest drop in its tax base in 2010 to taking the largest hit this year. The decline is likely to grow as the county has heard only a few thousand of the 19,636 appeals in 2011.

Dekalb lost 5 senior appraisers in 2010, and has lost 19 jobs since 2009, and their 57 full-time employees do more work because of the yearly assessment.

In 2011 Dekalb County stopped cutting employees and instead increased their tax rate 26%.

Many elected officials in Dekalb expect at least a 5% drop in property values countywide. To keep their budget in line they expect to leave many positions vacant and increase certain fees. If that is not an appropriate fix—you can expect cuts in service.

Many realtors state that lower cost homes in the southern part of the county are no longer losing value.

The higher the price valuation of your home—the more they are falling—in Dekalb County.

With many home values in the southern portion of the county low already—the north side of the county with pricier homes continue to see the decline—for the most part—in the value of their home.

Many expect that trend to continue into the year 2012.

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