Bloom and Covington Save Fulton County Commercial Property Owners Millions in Ad Valorem Taxes
Simon Bloom and Troy Covington successfully resolved a group of 19 ad valorem property tax appeals with the Fulton County Board of Assessors over the course of 2019 through early 2020. The properties at issue in the tax appeals included apartment complexes and office buildings located in Fulton County appraised before appeal at a total value of almost $1.7 billion. The tax bills on the properties totaled almost $27 million prior to the appeals but were reduced to about $21.6 million after the appeals. Simon and Troy also were successful in achieving a two-year freeze on the negotiated property fair market valuations in the vast majority of these cases. The successful resolution of the appeals thus saved the clients collectively approximately $15.9 million in tax liability over a three-year period.