According to a news release on the Cobb County website, Cobb’s tax assessors predict a cooling real estate market in the county, along with a more modest increase in the tax digest than in previous years.
Cobb County’s real estate market has slowed considerably, leading the Board of Tax Assessors to project a 2% increase in the county’s 2025 tax digest.
Outgoing Chief Assessor Stephen White illustrated the market’s deceleration during a recent presentation to county officials and stakeholders. “Two years ago, I told you the county’s real estate market was traveling at 55 miles an hour; last year, I said it was going 35, and this year, we’re at 20 miles an hour,” White said.
To view the slides from the presentation, follow this link.
White, who now serves as the county’s Support Services Director, joined newly appointed Chief Appraiser Christine Stinchcomb in delivering the annual tax digest projection. The tax digest is a critical financial measure used by local governments to plan budgets and determine property tax rates. It includes the total assessed value of taxable properties in the county, covering residential and commercial real estate as well as personal property.
The forecasted 2% growth is a significant slowdown compared to last year’s 8.52% increase. In 2023, the Board of Tax Assessors initially projected a 7.5% increase but saw a slightly higher final figure. This year, however, fewer homeowners will see their property values reassessed, and the average increase will be significantly smaller.
During their CobbTV presentation, White and Stinchcomb shared data that underscores the shifting market conditions. The average home sales price in Cobb County rose by only $20,000 over the past year, bringing the average home price to nearly $500,000. This marks a stark contrast from two years ago when the average price surged by $50,000 in a single year.
“Residential property values are still increasing, just not at the rapid pace we saw coming out of the pandemic,” White said.
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