Lakeland, Georgia Property Taxes
The median property tax rate in Lakeland, GA is 1.27%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Lakeland at $71,700, the typical annual property tax bill reaches $1,027, exceeding the national median of $2,690. Property taxes in Lakeland 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 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 the city, understanding 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 helps any homeowner, real estate investor, or potential owner estimate 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 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 Lakeland, Georgia
Property taxes in Lakeland, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeland is 1.27%, significantly higher than both the Georgia state median 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 both the highest and lowest median property tax rate of 1.27%. Understanding how these cities compare with Lakeland provides valuable insights into the varying tax landscape across Lanier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeland Tax Rate
1.27%
Average Lanier County Tax Rate
1.27%
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 | 0.90% | 1.22% | 1.27% | 1.68% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Lakeland, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lakeland, Georgia. 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 Lanier 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. 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. The highest median tax bill in the area is $1,027 in zip code 31635, while the lowest median tax bill is also $1,027 in the same zip code.
Average Lakeland Assessed Value
$71,700
Average Lanier County Assessed Value
$72,982
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 | $14,199 | $31,173 | $71,700 | $147,650 | $200,360 |
Source: Ownwell
Property Tax Bills Across Lakeland, Georgia
In Lakeland, Lanier County, GA, property tax bills are calculated based on the assessed value of a home, which is determined by the county tax assessor. The assessment is typically a percentage of the property's market value. Homeowners in this region experience a range of tax bills, significantly influenced by their property's assessed value and the applicable tax rate. For instance, the median home price in Lakeland is $71,700. Property tax bills can vary widely, with the 25th percentile tax bill at $406 and reaching up to $2,473 at the 90th percentile. The highest median tax bill in the area is $1,027, which aligns with the national median property tax rate of 0.99%. These taxes fund local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners need to consider these factors when budgeting for their annual expenses, as property taxes can significantly affect overall homeownership costs.
Average Lakeland Tax Bill
$1,027
Average Lanier County Tax Bill
$989
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 | $154 | $406 | $1,027 | $1,887 | $2,473 |
Source: Ownwell