Cave Spring, Georgia Property Taxes
The median property tax rate in Cave Spring, GA is 0.98%, slightly below both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Cave Spring at $148,626, the typical annual property tax bill reaches $1,394, which is significantly lower than the national median of $2,690. Property taxes in Cave Spring are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cave Spring'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 Cave Spring or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cave Spring, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,457
$1,415
Ownwell’s Cave Spring Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Cave Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cave Spring to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cave Spring, Georgia
Property taxes in Cave Spring, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cave Spring is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Cave Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cave Spring 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 Cave Spring's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30124 zip code has the highest median property tax rate of 0.98%, while the 30124 zip code also has the lowest median tax rate of 0.98%. Understanding how these cities compare with Cave Spring provides valuable insights into the varying tax landscape across Floyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cave Spring Tax Rate
0.98%
Average Floyd County Tax Rate
1.19%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cave Spring, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30124 | 0.29% | 0.61% | 0.98% | 1.29% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Cave Spring, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cave Spring, GA. 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 Floyd 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 Cave Spring, 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the median home price in the area is $148,626. The median tax bill for the 25th percentile is $713, while for the 75th percentile, it is $2,252. The highest and lowest median tax bills in the 30124 zip code are both $1,394. Being aware of these valuation processes in Cave Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cave Spring Assessed Value
$148,626
Average Floyd County Assessed Value
$141,916
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cave Spring, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30124 | $54,060 | $93,027 | $148,626 | $230,980 | $348,064 |
Source: Ownwell
Property Tax Bills Across Cave Spring, Georgia
In Cave Spring, located in Floyd County, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Cave Spring is $148,626, and the property tax rate is determined by local tax authorities. Homeowners in this region can expect a range of tax bills, with the 25th percentile paying around $713, and those in the 75th percentile facing bills close to $2,252. At the higher end, the 90th percentile sees tax bills of approximately $3,376. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions or deductions. For instance, homeowners with higher property values will generally pay more in taxes. Compared to the national median property tax rate of 0.99%, the tax burden in Cave Spring can vary significantly, impacting homeowners' annual financial planning and overall cost of living.
Average Cave Spring Tax Bill
$1,394
Average Floyd County Tax Bill
$1,460
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Cave Spring, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30124 | $276 | $713 | $1,394 | $2,252 | $3,376 |
Source: Ownwell