In Dekalb County, Georgia, the county’s CEO, Michael Thurmond, believes residents need property tax relief.
Furthermore, he is not willing to wait until 2020 to start the process.
In a mid-year 2019 budget proposal made in early July, Thurmond proposed rolling back property taxes by a cumulative $12 million, which would reduce property taxes on a $250,000 property in the county by about $41. In combination with an existing homeowner tax relief program existing only in Dekalb County, Thurmond’s proposal would create a cumulative “tax relief” of $131 million, equating to about $889 for residents who own homes valued around $250,000.
The Dekalb County median home price at present is just over $200,000, but that value has risen nearly 13 percent in the last year alone. With metro Atlanta home prices rising faster than metro Atlanta salaries, analysts have become increasingly concerned about the overall affordability of the metro Atlanta are and surrounding suburbs. Even though Atlanta, Georgia, and surrounding counties like Dekalb are located in the southeast, the cost of living is rising in the area just as it is elsewhere in the country. Thurmond hopes his property tax relief efforts might make it easier for Dekalb homeowners to both buy homes and sell them in order to move into larger homes and free up “starter homes.”
Georgia is one of the states in which PIP Group focuses its efforts for tax lien and tax deed investing because of policies that are advantageous to the investor.
Many tax lien investing experts agree Georgia is one of the best states in which to invest if an investor is hoping to acquire properties as well as high returns on their tax lien investments. The auctions tend to be small, and investors can set an interest rate from the date of purchase that may be as high as 20 percent. Furthermore, Georgia offers an alternative to quiet title in the event that an investor does not wish to pursue judicial means for acquiring a property where the lien has gone unpaid.
PIP Group believes that the Georgia housing market, as a statewide whole, is both primed for investor returns when it comes to owning property in the state and perfectly positioned for tax lien-based acquisitions. You can learn more about our strategies in Georgia and in other states by visiting PIPGroup.com.