Property values in Walker County, Ga., are going up by about $50 million this year.
In a posting on its website, the county’s board of education announced all property within its jurisdiction holds a combined value of about $1.312 billion. Last year, that value sat around $1.259 billion.
The increase comes after property values stayed flat for several years.
The county’s appraisers had not evaluated the worth of the properties in more than a decade, but a state agency forced the local government to re-assess its land because the state believed the property values were inaccurate – some too high, others too low.
What does this change mean for tax bills? It’s too early to say. Essentially, local taxes are determined by a simple equation: the value of your property, multiplied by a tax rate. So if the property values go up, the county could lower its tax rate and get the same amount of revenue.
