WMCC News

You may have to think again, at least if you live in Augusta.

To review: It will be revaluation time in Bibb County in six months for the first time since 2001.  The Macon-Bibb County Board of Tax Assessors is expecting a tsunami of appeals.  Homeowners are already arming themselves with arguments that the recent economic crisis and its effect on housing prices has resulted in a devaluation of the assessed values of their homes.

Now comes ex-Bibb County chief appraiser Calvin Hicks, now the chief appraiser for Richmond County, to shoot holes in that theory in an article published in the Augusta Chronicle.

Both (Debbie Robertson, Columbia County’s chief appraiser) and Mr. Hicks said the mere fact that an owner would have to significantly mark down a home to sell it isn’t enough to lower its assessed value.  Little will change in areas that remain stagnant, with “for sale” signs up but nothing moving.

“They are going to remain as they are until there is some market evidence that they need to be changed,” Mr. Hicks said.

Hicks made that statement even though 232 out of 987 qualified sales undercut assessed values so far this year.

Both Ms. Robertson and Mr. Hicks said the mere fact that an owner would have to significantly mark down a home to sell it isn’t enough to lower its assessed value. Little will change in areas that remain stagnant, with “for sale” signs up but nothing moving.

“Bibb tax assessors anticipate a host of appeals” macon.com 10/30/2008

“Home values drop; will taxes?” chronicle.augusta.com 10/17/2008