Georgia Apartment Complex Loses Property Tax Assessment Appeal

A Georgia county properly took a taxpayer’s low-income housing tax credits into consideration when determining the fair market value of its apartment complex, a state appeals court ruled.

The trial court properly ruled that excluding the benefits from the fair market value would grant preferential treatment to the property in violation of the Georgia Constitution’s taxation uniformity provision, Judge Brian M. Rickman wrote Thursday for the Georgia Court of Appeals.

Freedom Heights LP owned the rent-restricted complex in Valdosta, Ga. The cost of constructing the complex was partially financed with federal and state low-income housing tax credits.

The Lowndes County ...