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Georgia Property Tax Updates

UPDATED JUNE 2019

Foreclosure Sale - Arm's Length or Not?

In DeKalb County Bd. of Tax Assessors v. Astor Atl, LLC, 2019 Ga. App. LEXIS 215, 826 S.E.2d 685 (April 1, 2019), the Georgia Court of Appeals held that a bank foreclosure sale pursuant to deed under power can be an arm’s length bona fide sale. The county board of tax assessors was precluded from valuing properties at fair market values higher than the amounts paid at the public auctions for the tax year subsequent to the year of purchase, pursuant to O.C.G.A. § 48-5-2(3). The fact that the sale may not be at true fair market value is irrelevant; the fact that the sale results in financial loss is irrelevant as well.


Lisa F. Stuckey
Ragsdale, Beals, Seigler, Patterson & Gray, LLP
American Property Tax Counsel (APTC)

Florida Property Tax Updates
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American Property Tax Counsel

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