LAWRENCEVILLE -- Homeowners will get another hit in property values, with new property value assessments in the mail.
Gwinnett's Chief Appraiser Steve Pruitt said about 80,000 residential properties will have a decrease in values, according to 257,000 residential assessments mailed Friday. On average, those homes have decreased in value by 22 percent -- a $2.5 billion adjustment in the residential market value in the county.
About 300 of the county's 14,000 commercial properties actually see a boost in value, a press release said, adding $625 million in property value. New properties added another $400 million in value, the release said.
Expecting a continuation of the recent trend in dropping property values, officials planned an 8.3 percent decrease in taxable value for properties, or about $2.1 billion when they planned the 2012 government budget.
The numbers, they hope, will line up, when residential and commercial appeals are complete.
According to the statewide appeal process, people have 45 days to file paperwork to review the assessment. The deadline is May 21.
Appeal information can be found at www.gwinnett-assessor.com. Submissions will be accepted by mail or in person at the Gwinnett Justice and Administration Center in Lawrenceville. For answers to questions, email email@example.com or call 770-822-7200.