Oakwood, Georgia Property Taxes
The median property tax rate in Oakwood, GA is 1.09%, slightly higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Oakwood at $221,800, the typical annual property tax bill reaches $2,515, just below the national median of $2,690. Property taxes in Oakwood are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oakwood'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 Oakwood 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
Oakwood, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$2,418
$2,348
Ownwell’s Oakwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakwood 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 Oakwood, Georgia
Property taxes in Oakwood, Georgia, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakwood is 1.09%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Oakwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakwood 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 Oakwood's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30566 zip code has the highest median property tax rate of 1.09%, while the same zip code also has the lowest median tax rate of 1.09%. Understanding how these cities compare with Oakwood provides valuable insights into the varying tax landscape across Hall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakwood Tax Rate
1.09%
Average Hall County Tax Rate
1.09%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30566 | 1.09% | 1.09% | 1.09% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Oakwood, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oakwood, 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 Hall 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. 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. Oakwood's median home price stands at $221,800, with the median property tax bill ranging from $1,895 at the 25th percentile to $3,875 at the 90th percentile. Notably, the zip code 30566 has both the highest and lowest median tax bill at $2,515. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oakwood Assessed Value
$221,800
Average Hall County Assessed Value
$259,200
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30566 | $132,200 | $179,775 | $221,800 | $271,326 | $349,240 |
Source: Ownwell
Property Tax Bills Across Oakwood, Georgia
In Oakwood, located in Hall County, GA, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, exemptions for primary residences or senior citizens can significantly reduce the taxable amount. In Oakwood, the median home price is $221,800, and the property tax bills vary widely. The 25th percentile tax bill is $1,895, while the 75th percentile reaches $3,083. At the 90th percentile, homeowners can expect to pay around $3,875 annually. These tax bills can impact homeowners' budgets, influencing their financial planning and potentially affecting property values. Compared to the national median property tax rate of 0.99%, Oakwood's tax rates reflect the local economic conditions and public service funding requirements.
Average Oakwood Tax Bill
$2,515
Average Hall County Tax Bill
$2,651
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30566 | $1,468 | $1,895 | $2,515 | $3,083 | $3,875 |
Source: Ownwell