Property Taxes

Property Taxes in Georgia

Comparatively speaking, the property taxes in Georgia are considered low. Coming in at about $800 less than the national average, the median real estate tax in Georgia is $1,771 per year. The average effective property tax rate in Georgia is 0.87%.

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How to Determine Your Georgia Property Taxes

Quite simply, your tax will depend on the assessed value of your home, and that value is based on (but not equal to) your home’s market value.

The assessed value is determined by the county assessors that appraise every home in the county to determine the home’s market value.

Type of home and type of neighborhood are preliminary factors and then the Georgia assessment ratio is applied. Virtually every county and city in Georgia use an assessment ratio of 40%. Meaning if your home’s market value is $300,000 then the assessed value is $120,000.

Please note that there are a few cities that use different assessment rates. For instance, in the city of Decatur, the assessment ratio is 50%.

Factoring in Exemptions

Georgia also allows a number of property tax exemptions which can reduce your home’s assessed value. This is where you need to examine specific allowances for your county, because this varies from county to county.

Understanding Millage Rates

In order to get a complete view of your property taxes, you have to also consider Millage Rates, and this is where it gets a little less than straightforward. Because Millage Rates apply to assessed value, (which varies depending on the ratio and the local exemptions offered), it can be difficult to compare millage rates between two locations.

More on Millage Rates

A Millage Rate is equal to $1 of taxes for every $1000 in assessed value. A rate of 10 mills means that $10 in tax is levied on every $1,000 in assessed value.

Millage rates vary from town to town, and can be complex to understand. Different agencies like school boards within a municipality may have their own millage rates to calculate local school taxes based on a derivation of the total property value within school district boundaries.

Note, in most Georgia counties, the largest source for property taxes is generated by schools, and are typically between 15 and 20 mills.

To precisely determine Millage Rate you will need to contact your appropriate city or county municipality.

The best way to get a fairly accurate snapshot of the tax implications of a property is to simply examine general property tax rates – the median property taxes paid as a percentage of median home value.