O’Connor ratio research shows that the median time-adjusted sales price for a typical residence in Glynn County, Georgia is $325,000, but the median assessed value is $301,600, which is $23,400 more than the market price. As a result, much residential property in Glynn County is overvalued. The research study compares the time-adjusted sales price with the value established by the Glynn County tax assessor for 2023. The value of a typical home in Glynn County has climbed by 17.3%, but homes in the $1M to $1.5M price range have been affected worse, seeing a value increase of 20.2%. Homes in the $500K to $750K price range are also feeling the pinch due to 20.6% higher evaluations for 2023. The highest increases for Glynn County single-family properties have been seen in properties with 2,000 to 3,999 square feet. Homes between 2,000 to 3,999 square feet received an increase in property tax... Read More

According to an O’Connor ratio analysis, the median time-adjusted sales price for the typical home in Gwinnett County, Georgia is $370,000, but the median appraised value is $378,700, which is $8,700 more than the market price. This means the average Gwinnett County residential property is overvalued by 2.7%. The analysis contrasts the time-adjusted sales price and the 2023 value determined by the county tax assessor for Gwinnett County. A typical home in Gwinnett County has increased in appraisal by 15.6%, however, homes in the $1M to $1.5 M range have been hit harder with values bumping up by 20.2%. Houses in the $750K to $1M range are also feeling a sting with appraisals 18.5% higher for 2023. Gwinnett appraisals for single-family properties have grown by double digits across all size homes. Properties under 2,000 square feet had a 16% property tax appraisal rise, while properties above 8,000 square feet saw... Read More

Commercial property owners in Forsyth were shocked to receive 2023 property tax assessments 35.8% higher than in 2021. Owners of hotels and warehouses received the largest increases; both over 130% in 2023. Property tax assessments for hotels rose 164% in one year; from $13.8 million in 2022 to $36.5 million in 2023. Property tax assessments for warehouses in Forsyth County increased by 135.8%; from $70 million in 2022 to $165.6 million in 2023. The value of all commercial property in Forsyth County increased from $1.83 billion in 2021 to $2.49 billion in 2023. This includes apartment, office, retail, warehouse, hotel, and land. This data has been compiled by O’Connor, the nations largest property tax consultant. While the commercial owners no doubt feel stunned by these increases, they are modest compared to the increases for homeowners in Forsyth County. The Forsyth County Tax Assessor’s value for houses rose 75%, from $26.8... Read More

A review of Chatham County 2023 property tax assessments reveals an average increase of 87% per house. Houses valued between $500,000 and $750,000 had the largest increases in property tax assessments; an unbelievable 147.7% increase in one year! This analysis was conducted by O’Connor. Homes valued between $250,000 to $500,000 were also increased over 100%; the average property tax assessment increase in this value range in Chatham County was 128.3%. Homes with more modest increases were those valued at $1.0 to 1.5 million (8.6% increase in property tax assessment). Homes valued over $1.5 million incurred increases in property tax assessment of 17.5%. The following graph illustrates the property tax assessment increase by value strata: The typical home in Chatham County is over-valued by 4.9% based on a ratio study by O’Connor. The ratio study compares the time adjusted sales price and the 2023 value assessed by the county tax assessor.... Read More

Chicago property tax assessments are skyrocketing for homeowners, with some seeing increases over 100%.  For the fourteen Cook County townships reviewed, residential property tax assessments increased most in Calumet, a whopping 54.5%.  The townships reviewed include Barrington, Berwyn, Calumet, Hanover, Oak Park, River Forest, Riverside, Rogers Park, Lemont, New Trier, Orland, and Schaumburg.  Six of the fourteen did not have a major reassessment in 2023, including Barrington, Hanover, Norwood Park, Rogers Park, New Trier, and Schaumburg. Townships reassessed in 2023 had value increases of at least 23%, despite a flat housing market in 2022.  However, the 2023 reassessment includes property appreciation that occurred in 2020 and 2021.  The 2023 assessment increases by township include: Calumet (54%), Cicero (41%), Orland (39%), Lemont (37%), Berwyn (37%), Riverside (29%), River Forest (29%), and Oak Park (24%) The total estimated market value of homes in these townships has increased from $20.1 billion in 2020... Read More