If you’re thinking about an investment property in Fulton County, you should be aware that the Fulton County Board of Assessors announced a 25 percent median increase in the year’s home appraisals. Last year, Fulton County residents complained about drastic assessment increases. After those complains, Fulton County decided to keep assessments the same as the year before. Still, that won’t work this year. See, according to law, tax assessments must be close to market value and Fulton is doing very well.
Still, in Fulton County, the board of assessors did tell the public they would investigate properties that might have been wrongly appraised. In total, the board will have to review over 80,000 properties though. Tax bills will arrive any day now.
Still, just this week, WSB-TV Atlanta reported that Fulton County now faces legal action. The county is accused of “sales chasing,” or raising the assessment to its sales price while leaving other properties unchanged. Reportedly, one lawyer is considering a class action lawsuit over the matter.
There are great investment properties in Fulton County. That is certain. Just be prepared ahead of time for the possibility that taxes may be higher than you’ve anticipated.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.