ANDP - Responding to Metro Atlanta's Foreclosure Crisis

Special Series on Property Tax Assessments

As a part of its effort to respond to the foreclosure crisis, ANDP teamed up with with RCLCO to examine property tax assessment levels compared to home sales in high foreclosure neighborhood. As documented in four reports below, neighborhoods hardest hit by the foreclosure crisis have the greatest risk of overpayment of property taxes.

Analysis of Home Sales Prices and Appraised Home Values in High Foreclosure Rate Neighborhoods. Released March 2010.
Analysis of Changes in Property Tax Values from 2008 to 2009 in High Foreclosure Rate Neighborhoods. Released February 2010
Updated Analysis of Home Sales Prices and Appraised Home Values in High Foreclosure Rate Neighborhoods. Released April 2009.
Analysis of Home Sales Prices and Appraised Home Values in High Foreclosure Rate Neighborhoods. Released October 2008.

Impact of ANDP's Property Tax study, Homestead Exemption

In an effort to keep Atlantans in their homes, ANDP has been engaged in two critically important policy issues in the last two years. In 2008, we led a successful effort to increase Homestead Exemption rates in the City of Atlanta and Fulton County - working with key state legislators and many others. Voters overwhelmingly approved the measure that doubled the existing rate over a three year period. In late 2008, ANDP commissioned RCLCO - a national real estate advisory firm - to conduct a series of studies to examine the disconnect between fair market values and property tax assessments in high foreclosure neighborhoods. What is the impact of ANDP's work in these areas?

According to an analysis by RCLCO, ANDP's tax policy efforts thus far will save lower-income families (at 80 percent or below of area median income) in the City of Atlanta/Fulton County a minimum of $36.2 million for an average annual savings of $1,013 per household by 2011. READ THE FULL REPORT