Appraisal Methodology

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).

Income producing Property (Commercial, Industrial, etc.)

Modeling, as described above may be used on Commercial properties, however all three commonly used approaches are considered. The most commonly utilized approach to value is the Income Capitalization Approach. This methodology uses the net operating income divided by a capitalization rate to produce a value that is representative of Fair Market Value. These rates, vacancy and expense ratios are based on what is normal and ordinary to the market for the type of property being valued. Values are also reviewed and statistically tested for compliance and uniformity.

Documents

Documents provided to the public will consist of the following:

  • Individual property record cards for the parcel or parcels requested
  • A list of sales in the area for which the subject parcel is located
  • Any additional documents utilized in the establishment of the value
  • A copy of the sales assessment ratio study for the neighborhood in which the subject parcel is located