property taxes property taxes Georgia

Simplified Property Tax Solutions

Property taxes are levied against real and personal property. The valuation, assessment, and appeal processes can be intricate, and staying compliant with ever-evolving tax laws requires vigilance. CKH Group recognizes the challenges our clients face in this dynamic environment, and our Property Tax Services are strategically crafted to alleviate the burden and deliver tangible value.

As a leading CPA firm based in Atlanta, we take pride in offering Tax Services designed to:

    • Maintain property tax compliance
    • Reduce risk or costly errors
    • Provide timely and efficient results

What Is Property Tax (Real Estate Tax)?

Property tax, is a tax imposed on the possessions held by a corporation, individual, or any legal entity. Predominantly, this tax takes the form of an ad-valorem tax on real estate, exhibiting characteristics of a regressive tax structure. Local governments determine and collect this tax based on the property’s location, with the responsibility falling on the property owner for payment. Typically, the tax is computed in relation to the overall value of the property, encompassing both the land and any structures. It’s worth noting that various jurisdictions extend property taxation to include tangible personal assets like equipment, vehicles, and watercraft.

How to Calculate Property Tax

Property taxes are calculated by adding all the levies on the properties within the boundaries of cities, counties, and school districts. This creates a total tax rate, known as a mill rate, for a region. Once you have your mill rate, it is multiplied by the assessed value of a property. Your property’s market value is determined by using one or a combination of three methods: the cost method, the income method, and performing a sales evaluation.

In general, the more valuable the property, the higher the tax rate will be. You can use a  property tax calculator or reach out to CKH Group for assistance.

Real Estate Tax vs Property Tax: What’s the difference?

Property tax and real estate tax are often used interchangeably, but this is only partially true. Much like the phrase that all squares are rectangles but not all rectangles are square; real estate tax is a property tax, but not all property taxes are real estate taxes. This is because many jurisdictions also levy taxes against tangible personal property (not just real estate). According to a report by the Tax Foundation, 43 states tax tangible personal property (such as cars, furniture, and jewelry).

So, the main difference is that real estate taxes are taxes on real property only; while property taxes can include real property and tangible personal property.

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Why Choose CKH Group?

CKH Group’s Tax Services are designed to unlock your tax potential and secure your financial well-being.

With CKH Group, you’re not just getting a CPA firm; you’re gaining a trusted partner committed to your success. Discover the CKH Group advantage, where excellence, integrity, and expertise come together to create a powerful tax partnership for you. Contact us today to explore how our tax services can add value to your organization.

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Property Tax Services