When is the valuation date for property taxes in Georgia?

In Georgia, the valuation date for property taxes is January 1st. This date is significant because it establishes the time at which property values are assessed for taxation purposes. It ensures consistency and fairness in how properties are evaluated, as all properties are assessed based on their status as of that specific date.

By adhering to a uniform valuation date, local governments can accurately determine tax liabilities for property owners, creating a stable system for funding public services. The importance of this date is underscored by the fact that property owners are notified of their assessed values shortly after this date, which allows them to make necessary appeals or adjustments accordingly. Thus, knowing that January 1st is the cutoff for assessing values is crucial for both appraisers and property owners in understanding property tax obligations.