The Board of Tax Assessors approved the 2023 tax digest during a June 28, 2023, meeting.  This year's digest is an increase over last year's digest of 15.7% before exemptions.  Chief Appraiser Stephen White attributes the growth to a persistently hot real estate market not just in Cobb but across the metro area and state.  

The approval clears the way for the board to distribute the digest to local authorities.  These authorities must set their millage rates by the end of July so the Tax Assessor's office can submit the digest to the state Department of Revenue for approval.

The digest represents the value of all county commercial property, residential property, and taxable personal property.  Chief Appraiser Stephen White has released two videos addressing how the digest is calculated and the laws and regulations his office must follow.

Watch the video released when the Assessor's office mailed the Notice of Assessments

Watch the video released when the Chief Appraiser made his initial tax digest prediction

Some important topics covered in those videos include:

The assessments and increases in property values are not just happening in Cobb County.
State law requires the Chief Appraiser in each county to appraise property values in their counties each year accurately.  Failure to do so could result in penalties.  Appraisers in other metro counties indicate property values are up in their jurisdictions and some neighboring counties by more significant percentages than Cobbs.

How can a property owner determine if their appraisal is accurate?
Multiple tools on the Tax Assessor's website (cobbassessor.org) will allow property owners to research values in their neighborhoods and examine sales of comparable homes.  It is important to remember that this year's assessment is based on values as of January 1, 2023.  Research should compare sales that occurred in 2022.

What recourse is available to property owners?
Many property owners appealed their assessment during the 45-day appeals window.  Those appeals are going through the review process now.  A further appeal to the Board of Equalization is available to property owners if they are initially denied.

How much will the new assessment increase my property tax bill when I receive it in October?
The bill will depend upon millage rates set by local authorities in July.  Cobb residents are eligible for the homestead exemption for their primary residence.  This exemption freezes the amount they pay into the county's general fund when they apply for the exemption.  In 2022, this saved property owners $71 million.  Homestead owners will also see a one-time property tax relief line on their October bills, based on the Property Tax Relief Grant passed by the state legislature this year.  The Tax Commissioner's office calculates this could significantly mitigate tax bill increases based on higher assessments.