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ABOUT US | NEWSROOM | LIVING IN DEKALB | DOING BUSINESS WITH DEKALB | VISITING DEKALB
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  Appraisal Definitions
Property Appraisal
 
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Property Appraisal Department
120 West Trinity Place,
Room 208
Decatur, GA 30030
Phone: 404-371-0841
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Appraisal Definitions
 
Acre Appeal Appraisal Arbitration Appeal Assessed Value
Assessment Assessor Board of Equalization
(BOE)
Common Area Comparables
(COMPS)
Condition Condominiums Deed Deed
Book & Page
Economic Obsolescence
Freeport Exemption Functional Obsolescence Hearing Date Industrial Miscellaneous Improvement
Neighborhood Property Class Sale Date Sale Transfer Code Sales Instrument
Situs Subdivision Topography Zoning Code Warranty Deed

Acre
A parcel/plot of land equal to 43,560 square feet
Appeal
A process in which a property owner contests an assessment
In Georgia, property owners may appeal on taxability, uniformity of assessment and value.
Appraisal
The process of developing an opinion of value
Arbitration Appeal
An alternative appeal process established to settle a dispute outside of court using an arbitrator(s)
Assessed Value
A value set on real and personal property by a government as a basis for levying taxes.
Assessment
The official valuation of property for ad valorem taxation.
In Georgia, the assessed level is 40% of the appraised value.
Assessor
The head of an assessment agency (Board to Tax Assessors) that collectively discovers, lists, and values real estate for ad valorem taxation
Board of Equalization (BOE)
A public body charged with the duty of hearing and deciding appeals taken by taxpayers on assessments established by the Board of Assessors (or other body other than the courts).
Common Area
The total area within a property that is not designed for sale or rental but is available for common use by all owners/tenants; e.g.., parking lots, sidewalks, malls, etc.
Comparables (COMPS)
Similar property sales, rentals, or operating expenses used for comparison in the valuations (appraisal) process; also referred to as comps.
Condition
The physical condition of a structure due to change since its origination
Condominiums
A multi-unit property in which persons hold fee similar title to individual units and an undivided interest in common areas
Deed
In real estate, the legal document recorded to show ownership of real estate
Deed Book & Page
The official book and page in which the real estate deed is recorded
Economic Obsolescence
A loss in value due to a negative influence from factors external to the property
Freeport Exemption
The portion of personal property exempted from taxation; e.g., Raw Materials and Goods in Process, Finished Goods, and Out of State Shipments.
Functional Obsolescence
The depreciation of a property resulting from deficiencies or inadequacies in the structure
Hearing Date
This is the date set by the Board of Equalization to hear the appeal or scheduled date for appearance in Superior Court
Industrial
Land and/or improvements that can be adapted for industrial use
Miscellaneous Improvement
That portion of real estate with improvements not including the main building; e.g., asphalt paving, outbuildings, sheds, storage buildings, etc.
Neighborhood
A group of complimentary/comparable land uses such as buildings or businesses used for valuation of like properties.
Property Class
The State of Georgia stratification code used to group like properties for purposes of analysis.
Sale Date
The official date recorded on a deed when property was transferred
Sale Transfer Code
The legal code recorded with the transfer of property indicating the condition under which the property changed ownership
Sales Instrument
The legal description/document of the type of deed between purchaser and buyer
Situs
The physical location of the property
Subdivision
A tract of land that has been divided into lots or blocks with other facilities appropriate to its development as residential, commercial, or industrial; e.g., streets, roadways, open area, etc.
Topography
The relief features or surface configurations of an area; e.g., hills, valleys, slopes, lakes, rivers, etc.
Zoning Code
A code used to designate the public regulation of the character and extent of real estate restricting its use and development.
Warranty Deed
A deed that conveys to the grantee title to the property free and clear of all encumbrances, except those specifically set forth in the document.
 
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