Chattooga County Property Assessors Website
ASSESSMENT NOTICE EXPLAINED
Appealing a change in Value based on MARKET VALUE
Sorry, I searched the Department of Revenue's site for this topic, and other than this ,I couldn't find anything. What follows is my attempt to explain this concept in english (more or less).
In the simplest terms, to appeal based on Market Value is to deny that your property, if put on the open market, would sell for a value close to the one we've placed on it.
ITEM OF NOTE: Don't confuse "Market Value" with "worth". We in the Assessors Office make absolutely NO claim that your property is "worth" any value that anyone puts on it -- us included. Nor do we make any guarantee that any property will sell for the value at which we have appraised it. Rather, an appraisal for ad valorem tax purposes tries to reflect what properties similar to yours have typically been selling for over the course of the previous year or so.
"Fair Market Value" for tax purposes is defined by law (O.C.G.A. 48-5-2(3)) ... but since I've gone to all the trouble to set up this page, let me explain a few of the fine points contained in that definition.
Bottom line: when you appeal on the basis of Market Value, the contention is that your property is valued out of line with the typical selling prices of similar properties in the county.