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Tax assesment a long, complicated process

Posted: Saturday, May 12, 2018 12:00 am

By now property owners may have received their Annual Assessment Notices which are sent out by the Walton County Board of Tax Assessors during the first week in May. Many people are concerned that the “100 percent Appraised Value” listed for their property does not accurately reflect its true value.  However, according to Walton County Chief Tax Assessor Harry Knight, the “Fair Market Value” listed in the notice is not the value of each individual piece of property but the median price of sales in the county for similar property. 

Mr. Knight pointed out that the millage rates set annually by the county, Walton County Board of Education, and city governments are equally important in determining the amount of your property taxes. He estimates that approximately 65 percent of property tax revenue collected by the county goes to fund county schools and the balance to fund county operations. The independent city school system in Social Circle has a separate tax levy.

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