Thomas County Property Values Hit 2 Billion

Thomasville, Georgia, 11 May 2023 — Georgia law requires local Boards of Tax Assessors review real estate sales and make adjustments to the local property tax digest based on current market trends. The Thomas County Tax Assessors staff reviewed more than 760 transactions in 2022. Based on an analysis using Department of Revenue regulations, the Tax Assessors are reporting a 13% increase in the overall property tax digest. Residential base improvement costs increased 20% and urban land lots increased 15%. Commercial and Industrial properties will increase in value an average of 10%. A few specialized properties may see larger increases.
According to Chief Appraiser Daniel Stokes, tax assessment notices will be mailed out within the next week to each property tax payer on record. The notice will include information advising the property owner of Tax Assessors’ procedures for appealing assessed property values. The notice will also include estimated 2023 property taxes using 2022 property tax millage rates. Appraiser Stokes noted, “It should come as no surprise to anyone that we have experienced a significant increase in property values”.
Property owners are advised that the actual tax rate will not be set by the County Commissioners until August and will be lower than the 2022 tax rate. The 2023 tax rate will be reduced to the “rollback rate”. The tax rate reduction known as a “rollback rate” is calculated in accordance with Georgia law and represents a reduction in rates equal to the overall increase of tax digest assessments. The ”rollback rate” is the decrease in the millage tax rate, required by law, for all taxable properties. Individual property owners may not see a corresponding change in their taxes depending on how close their particular assessment increase comes to the overall average increase.
“I am confident the Board of Commissions will reduce the property tax millage rate in August to the rollback rate, as calculated by Georgia law”, stated Board Chairman Zippy Vonier. “The County’s financial position is sound and no increase in property tax revenues is required”.
For questions regarding property assessments please contact Chief Appraiser Daniel Stokes and staff at the Tax Assessors’ Office in the Historic Courthouse at 225-4133.

Be the first to comment

Leave a Reply

Your email address will not be published.