Norwood Proposes 3% Cap on Property Tax Assessments

Mary Norwood Proposes 3% Cap on Property Tax Assessments

June 23, 2017:
FOR IMMEDIATE RELEASE

Media Contact:
Ellen Adair Wyche
Director of Communications
eawyche@thewychegroup.com
404.376.1694

ATLANTA, GA – —- Mary Norwood, the leading candidate in the Atlanta Mayor’s race, proposes a cap on property tax assessments for City of Atlanta property owners to give them future relief from the kind of exorbitant increases handed out by this year’s Fulton County Tax Assessment Board. Mary Norwood’s property tax cap proposal means the most the assessed value used to calculate City of Atlanta, Fulton County and Atlanta Public Schools property taxes each could increase in any given year would be 3% or the annual percent change in the Consumer Price Index, whichever is lower. Norwood went to work to freeze the 2017 tax digest in early June as soon as Atlanta tax payers were notified by the Assessment Board that estimated 2017 property tax assessments were increasing by amounts ranging as high as 400%.

Norwood said, “My intention is to limit the amount a property assessment can rise to a maximum of 3% per year for homesteaded properties. This will enable all homeowners to have predictability in their assessments, and will help preserve and maintain the fabric of our neighborhoods, keeping senior citizens and families in their homes,” said Norwood. “Importantly, my proposal will allow the tax assessor to focus on determining real value of new property sales and commercial property.  This 3% cap is imperative if Atlanta is going to have truly affordable housing in every sector of our city.  Every socio-economic stratum has been blindsided by these egregious increases.”

Norwood believes that gentrification of neighborhoods, such as those along the Beltline, Grant Park, East Atlanta, West Atlanta and the Summerhill-Turner Field community, is a fact of life in a thriving urban environment such as Atlanta, and benefits the community in many ways. At the same time, her solutions aim to make sure seniors, first time home owners and less advantaged citizens with strong ties to their neighborhoods do not have to leave their homes due to rising property values. Norwood favors a series of exemptions and other remedies, some of which are already in place, that should be applied to protect and promote the rich diversity that is already a part of Atlanta’s culture.

To implement her proposal and establish permanent property tax reform legislation, Mary Norwood is ready to lead a cross-governmental effort to create an equitable solution to this tax assessment crisis. “I will work with other city and county officials and members of the General Assembly to craft a fair and permanent solution, ensuring nothing like this can ever happen again,” she said.

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2017-08-22T23:43:14+00:00