Foreclosure bill signed into law

Gov. Sonny Perdue has signed Senate Bill 55, which requires tax assessors to factor in foreclosures in neighborhoods when assessing the taxable value of a home.

Sen. Chip Pearson (R-Dawsonville), filed SB 55 because a lot of foreclosures in a neighborhood can lower the value of other homes in the area. If foreclosures aren’t taken into account by assessors, Pearson said, homeowners wind up having inflated values and have to pay higher taxes.

One comment Add your comment

DSV

April 15th, 2009
4:26 pm

This is a good idea. I have been a victim since there are many foreclosures in my neighborhood and I saw a drop of $40,000 drop in my home value as well.