Single-family homeowners are likely to pay a higher portion of DeKalb County's property taxes this year as owners of apartments and commercial buildings seek reduced values for their properties because of COVID-19.
Residential property appraisals are expected to increase 5 to 6 percent this year as appreciation accelerates in a market where there are a limited number of properties for sale, DeKalb County Chief Appraiser Calvin Hicks told a committee of county commissioners on Tuesday.
Hicks warned that 80 to 90 percent of owners of multi-family properties, as well as hotels, motels and restaurants may appeal their appraisals this year because they have been negatively affected by the pandemic. Some apartment buildings were unable to evict tenants who had not paid rent because of the federal government's eviction ban, which President-elect Joe Biden has said he will extend.
"They have some legitimate concerns," Hicks told commissioners. "You can't really deny that there's been some loss of value as the metrics of the economy as it relates to their revenue have diminished."
"I've seen some reports that indicate as much as 80 percent of the commercial owners may consider filing some type of an appeal simply to get some sort of tax relief," he said.