Property Taxes
Real-Estate taxes have always been a significant source of revenue for the county government budget and county school budget. Few people enjoy paying property taxes on property that they own but most understand that it is necessary if the county is to provide services to the residents of Cobb. One aspect of Real-Estate that is not necessary, is to “Tax” long term residents out of the very property that they have called home for many years. Property “reassessments” have long been a covert way of raising taxes that “punish” long term residents and subsidize over development. As developers build new homes to meet the demand for new residents who want to live in Cobb, a byproduct is that overall property values increase (followed by property tax increases). There are a variety of factors that cause values to go up, but the reality is property values (taxes) have been increasing faster than many families’ income.
At some point all residents will be considered “long term” residents. And then newer residents will drive up their taxes also.
I would like to see a valuation freeze that is similar to other city and county governments in other parts of the US. That is the valuation will be tied to the price one pays for their home and is adjusted based on improvements or expansions to the home. Under County regulations property owners must get building permits for all major work done to their property and valuation of the property can be adjusted based on permits. The added benefit to valuation freezes is that fewer county resources will be need to conduct county wide property assessments and there will be fewer valuation appeals.