Booming real estate market boosts Cobb’s tax revenue

The value of Cobb County’s taxable property is estimated to have increased by 5.5% in 2020 despite the COVID-19 pandemic, according to an annual forecast from Stephen D. White, director and chief appraiser for the county’s Board of Tax Assessors.

The rising assessments will no doubt increase revenues to the budgets of the county and other jurisdictions within it that are funded by property taxes, county officials said.

White told CobbTV, the county’s television outlet, that he issues the forecast each year so that local governments can begin planning their budgets.

White attributed the jump in value to the county’s roaring residential real estate market.

“Homes are selling for more,” White said. “They are selling faster. Inventory is down. Interest rates are very affordable. It is really a seller’s market right now.”

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