Property assessment notices will be sent out April 17th and most property owners will see a significant increase in property values again this year. This is mostly due to inflationary growth as a result of the real estate market boom from 2019 thru early 2022. Although home & land sales have slowed down recently due to higher interest rates, the amount homes & land are selling for has not dropped. Upson County, like many other counties statewide, is having to increase the assessment value on properties in order to be within the guidelines set by the Georgia Dept. of Revenue for property assessment purposes. These guidelines ARE NOT set by local officials. They’re required to abide by the guidelines given to them by the State. Your assessment notices will reflect the new 2023 value along with the 2022 tax millage rate, and in most instances, the estimated tax amount will be more than the actual 2022 tax bill was. Important note here: The estimated tax amount you will see on the notice is simply that; an estimate. It is not your 2023 tax bill and it does not mean your taxes will necessarily increase or decrease for 2023. That will be determined when all the governing authorities set their millage rates in August of this year. However, there will be a one-time property tax relief grant for all homestead properties this year. On March 13, 2023, Governor Kemp signed legislation that will reduce the assessed value of Georgia homesteads by $18,000. This property tax relief grant will apply to all millage rates except for bond and tax allocation district millage rates. Our tax millage rates here in Upson aren’t determined until August of each year so we won’t know the exact amount this relief will save on homestead property tax until all millage rates are determined, but based on our 2022 millage rates, that savings could be as much as $500 for homestead properties. This is great news in a year where we’ll be seeing record growth in our tax digest.
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