What is the statutory date of valuation for property in Georgia?

The statutory date of valuation for property in Georgia is January 1. This date is significant as it establishes when property is assessed for taxation purposes. On this date, properties are valued to determine their worth in relation to property taxes for that calendar year. All property owners should be aware that any changes, improvements, or modifications made to a property after this date will not affect its assessed value until the following year.

Understanding the importance of January 1 as the statutory date helps property owners and appraisers know when to expect property assessments and the implications of valuation for property tax obligations.