and in other Fulton Country news.....
I wrote a while ago about the ongoing divorcing of North Fulton municipalities from greater Fulton County, here in metro Atlanta. Since then, we've had a crop of new cities appear: Johns Creek, Milton, Sandy Springs...and I believe that there's still some discussion about how to address this in South Fulton.
Meanwhile, back at Fulton County - commercial property reassessments! To the tune of *drumroll please*:
$18 billion dollars!!!
Many should expect to get notices with values two or three times what's on the books for 2007. And increases of that magnitude mean the possibility of massive tax increases later this year.
You can read the full story here: Revaluations show hikes in Fulton commercial properties
What does this really mean? That if you own commercial property in Fulton County - the median increase is 44%. That's the MEDIAN. And for some properties (click the picture for an Interactive Map):
- The Beautiful:: 168% valuation increase
- Sheraton Atlanta Perimeter:: 200% valuation increase
- Clarion Hotel Atlanta:: 44% valuation increase
Along with wondering how The Beautiful will be able to pay their taxes later this year (based on this new valuation) - I'm also wondering if the new municipalities will want/get a piece of THAT TAX PIE, hm?