The Richmond County Tax Assessor’s Office has delayed the mail-out of new property tax assessments to Friday.
The notices, required by state law, inform property owners of any changes in value of their taxable property, including real estate such as a house.
The assessments trigger a 45-day period in which property owners can appeal their assessment, in person at the assessor’s office or online. The deadline to file an appeal is Aug. 21.
Inflation and Augusta’s hot housing market has made assessment increases likely for many, Chief Appraiser Scott Roundtree said.
But this year, taxpayers will benefit from Georgia’s 2023 Property Tax Relief Grant, which will shave an additional $18,000 off the assessed value of a property, as long as it carries a homestead exemption.
Gov. Brian Kemp signed the grant into law earlier this year as part of the 2023 budget.
For a house in which the owner permanently resides valued at $300,000, for instance, its taxable value is 40% of that, or $120,000.
The homestead exemption in Augusta reduces the taxable value by $5,000 to $115,000. The grant would reduce the taxable value to $97,000.
To receive the credit, a homeowner must have applied for a homestead exemption by the Apr. 1 state deadline. Otherwise, the county bears responsibility for calculating the credit and reducing a home’s tax bill accordingly.
The assessed value is used to calculate the amount of a homeowner’s tax bill. The assessment notices arriving in the mail in the coming days contain an estimated bill amount are not bills.
The Richmond County Tax Commissioner sends the bills in the fall.
Seniors and other Georgia taxpayers eligible for property tax breaks can reduce their tax liability even further, but the grant can’t be used to create negative tax liability.
The processes are similar in every Georgia county and underway now in Columbia County.
