Owners of commercial property in Coweta were assessed property tax values for 2023 that were on average 20% higher than those for 2022. Landowners and hotels saw the highest increases in 2023; both were above 10%, but a single year saw a 44.1% increase in land assessments for property taxes, from $601.2 million in 2022 to $866.4 million in 2023. The property tax assessments for hotels in Coweta increased by 10.8% from $61.4 million in 2022 to $68.1 million in 2023. The total value of commercial real estate in Coweta County increased from $1.72 billion in 2022 to $2.06 billion in 2023. This includes dwellings, businesses, stores, warehouses, lodging establishments, and land. These figures were prepared by O’Connor, a subject matter expert in property tax. The significant rises in commercial property assessments are at odds with valuation trends that the Green Street real estate business reported in the Wall Street... Read More

O’Connor’s review of 2023 data released by Clayton County, Georgia indicates that the median time-adjusted buying price for a typical home in Clayton County, Georgia, is $220,000 overall. Surprisingly, the median assessed worth is $4,600 more expensive than the asking price of $215,400. As a result, residential real estate in Clayton County is overvalued by 1.4%. In this study, the time-adjusted sales price is contrasted with the 2023 tax assessor value for Clayton County. A median property in Clayton County has increased in value by 24.3%, but residences over the $1.5M price range have been impacted harder, seeing their homes growing in value by 48%. Homeowners in the $250K to $500k price bracket are also experiencing the burden as a result of 25.4% higher evaluations for 2023. In Clayton County, single-family houses with fewer than 2,000 square feet have seen the most gain in value. Property tax assessments increased by... Read More

O’Connor performed a ratio analysis on Cobb County, Georgia property values, finding the typical home’s median time-adjusted sales price is $363,000. Additionally, the median assessed value is $373,050, $11,050 more expensive than the going rate for the average home. As a result, the typical Cobb County residential property is overvalued by 3.2%. The analysis compares the time-adjusted sales price to the Cobb County tax assessor’s projected value for 2023. Cobb County’s average value has climbed by 16.9%, but residences valued above $1.5 million have been impacted worse, seeing a 19.3 %increase in value. Appraisals for homes in the $250K to $500K bracket are 17.6% higher for 2023, which is hurting those properties as well. The highest increases in property tax assessments occurred in the properties with the smallest square footage. Property tax assessment increases were 20.5% for homes under 2,000 square feet, while properties exceeding 8,000 square feet saw an... Read More

O’Connor ratio research shows that the median time-adjusted sales price for a typical residence in Glynn County, Georgia is $325,000, but the median assessed value is $301,600, which is $23,400 more than the market price. As a result, much residential property in Glynn County is overvalued. The research study compares the time-adjusted sales price with the value established by the Glynn County tax assessor for 2023. The value of a typical home in Glynn County has climbed by 17.3%, but homes in the $1M to $1.5M price range have been affected worse, seeing a value increase of 20.2%. Homes in the $500K to $750K price range are also feeling the pinch due to 20.6% higher evaluations for 2023. The highest increases for Glynn County single-family properties have been seen in properties with 2,000 to 3,999 square feet. Homes between 2,000 to 3,999 square feet received an increase in property tax... Read More

According to an O’Connor ratio analysis, the median time-adjusted sales price for the typical home in Gwinnett County, Georgia is $370,000, but the median appraised value is $378,700, which is $8,700 more than the market price. This means the average Gwinnett County residential property is overvalued by 2.7%. The analysis contrasts the time-adjusted sales price and the 2023 value determined by the county tax assessor for Gwinnett County. A typical home in Gwinnett County has increased in appraisal by 15.6%, however, homes in the $1M to $1.5 M range have been hit harder with values bumping up by 20.2%. Houses in the $750K to $1M range are also feeling a sting with appraisals 18.5% higher for 2023. Gwinnett appraisals for single-family properties have grown by double digits across all size homes. Properties under 2,000 square feet had a 16% property tax appraisal rise, while properties above 8,000 square feet saw... Read More