C
obb County's real estate market is hitting the brakes, and tax assessors are taking note. According to a recent presentation by Chief Appraiser Christine Stinchcomb and Support Services Director Stephen White, the county can expect a modest 2% increase in its 2025 tax digest.

    The slowdown is a far cry from previous years, when the market was revving at breakneck speeds. "We've gone from 55 miles an hour to 20," White said, referencing the market's deceleration over the past two years. The average home sales price in Cobb County has risen by just $20,000 over the past year, a paltry increase compared to the $50,000 surge seen just two years ago.

    The tax digest, a critical financial measure used by local governments to plan budgets and determine property tax rates, will reflect this more subdued growth. With fewer homeowners facing reassessment and smaller average increases, the county's property values are stabilizing after a pandemic-fueled boom. "Residential property values are still increasing," White noted, "but not at the same frenetic pace we saw during that time."

    This year's forecast marks a significant slowdown from last year's 8.52% increase and even lower than the initially projected 7.5% growth in 2023. As the market continues to shift, tax assessors will be closely monitoring its trajectory to ensure accurate projections for future budgets.