Non-income producing Property, (Residential, Farm, etc.)
The Fulton County Board of Assessors utilizes mass appraisal methodology in the valuation of property in Fulton County. Mass appraisal is the valuation of a large number of properties using more efficient methods instead of single purpose appraisals commonly known as “Fee Appraisals.”
The Assessors’ staff utilizes Computer Assisted Mass Appraisal (CAMA) software that is based on the concept of “Modeling.” Modeling is the establishment of a set of base factors, modifiers and values for each different type of property with similar basic similarities extracted from the market through a process known as “Multiple Regression Analysis.” Traditional use of three comparable properties adjusted to a subject, such as seen in Fee Appraisals is not utilized, however ALL sales information as well as other Real Estate Market data is utilized in the process of determining the base models. These models produce an accurate value for individual properties dependent on the different characteristics of the individual properties.
The resulting value is verified by quality control measures and statistical analysis to ensure that the tax digest complies with Georgia law and Georgia Department of Revenue Rules, Regulations and Guidelines and is consistent with the procedures and practices set forth in the DOR’s Appraisal Procedures Manual, (APM).