Group hopes for lower property taxes

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By Melanie Ruberti - bio | email

SAVANNAH, GA (WTOC) - President-elect Barack Obama said Monday the economy is sick and only getting worse, news that only adds to the strain on the housing market in 2008.

Signs of a slowing economy can be seen on almost every street in Chatham County. But now some homeowners like Adeeb Shabazz, hope to reap the rewards. With property values going down, he believes his taxes should too.

"Homes are not selling. Properties are not selling. But yet, when it comes down to assessments, we're still paying as much, or more on taxes," said Shabazz.

Slow homes sales, foreclosures and bankruptcies hit Savannah in 2008. Shabazz and the Citizens for Fair Public Policy say now the Chatham County Board of Assessors should make adjustments to reflect that downturn.

Homeowner, business owner and landlord, John McMasters, has felt this from all sides.

"For the past seven years, property values have skyrocketed," he told WTOC. "We paid higher taxes. So now that property values are down, 10, 15, 20, 25 percent, we're asking that the reduction be put on and calculated correctly."

According to Board of Assessors, this year's property values are only partially based on how home sales were for 2008. They're still waiting for some figures to come in, but what they've seen so far in some areas, home sales have been slow, but not necessarily down.

And while they are responsible for property values, they don't set the property taxes. That's up to the County Commission and the City of Savannah, who determine the tax rate. That may or may not change, even if property values decrease.

But Shabazz and others just hope to urge officials and property values, to move in the right direction.

"We really want to have the value reflect what's going on with the economy," Shabazz said.

And put a little more money back in their pockets.

If there is change in your property value, you will receive a notice in the mail from the Board of Assessors. Homeowners can also submit a proposal of what they think their property is worth or appeal the Board of Assessors' decision.