Lakeland, Georgia Property Taxes
The median property tax rate in Lakeland, GA, is 1.22%, notably higher than both the national median of 0.99% and Georgia's state median of 1.08%. With the median home value in Lakeland at $85,159, the typical annual property tax bill reaches $1,037, which is below the national median of $2,690. Property taxes in Lakeland are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Lakeland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lakeland or another part of Atkinson County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakeland, Georgia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,160
Ownwell’s Lakeland Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lakeland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeland to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in exploring trends on a neighborhood level, more localized information is available as you scroll down. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lakeland, Georgia
Property taxes in Lakeland, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeland is 1.22%, significantly higher than both the Georgia state median of 0.92% and the U.S. national median of 0.99%. Local government entities within Lakeland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeland estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lakeland's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31635 zip code has the highest median property tax rate of 1.22%, while the 31635 zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Lakeland provides valuable insights into the varying tax landscape across Atkinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeland Tax Rate
1.22%
Average Atkinson County Tax Rate
1.22%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeland, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31635 | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Lakeland, Georgia
In Lakeland, Georgia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Atkinson County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lakeland, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Lakeland is $85,159, with property tax bills ranging from $908 at the 25th percentile to $2,297 at the 90th percentile. The zip code 31635 has the highest and lowest median tax bill at $1,037. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lakeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeland Assessed Value
$85,159
Average Atkinson County Assessed Value
$40,504
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeland, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31635 | $68,802 | $75,615 | $85,159 | $139,853 | $188,579 |
Source: Ownwell
Property Tax Bills Across Lakeland, Georgia
In Lakeland, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, if the median home price is $85,159, the assessed value is a fraction of this amount, determined by local assessment rates. Property taxes are then calculated by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property characteristics, location, and any applicable exemptions. In Lakeland, the tax bill varies significantly, with the 25th percentile at $908 and the 75th percentile at $1,703. Homeowners in the 90th percentile face tax bills as high as $2,297. Compared to the national median property tax rate of 0.99%, Lakeland's property taxes can be quite variable. The highest and lowest median tax bills in Lakeland are both $1,037, indicating a level of consistency in some areas. These taxes significantly impact homeowners by influencing monthly mortgage payments and overall affordability.
Average Lakeland Tax Bill
$1,037
Average Atkinson County Tax Bill
$591
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeland, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31635 | $751 | $908 | $1,037 | $1,703 | $2,297 |
Source: Ownwell