By now, most Gwinnett County property owners should have received an annual notice of assessment in the mail. This year, approximately 80,000 of the notices will reflect a lower assessment.
The SP/Case-Shiller Home Price Indices released on April 24 showed the metro Atlanta area experienced a 17.3 percent year over year decline in property values. The area has had five consecutive months of double-digit negative returns and the lowest annual return in its 20-year history, the release stated.
According to a CNN Money report, housing prices nationwide are at their lowest since November of 2002.
With short sales and foreclosures still weighing heavily on the Dacula and Gwinnett County market, local housing prices have been negatively impacted.
If your assessment was not lowered and you feel your property is not worth the fair market value listed on your notice, you can file an appeal.