Commerce, Georgia Property Taxes
The median property tax rate in Commerce, GA is 1.22%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Commerce at $191,868, the typical annual property tax bill reaches $2,419, slightly below the national median of $2,690. Property taxes in Commerce 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 Commerce'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 Commerce 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
Commerce, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,341
$2,274
Ownwell’s Commerce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Commerce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Commerce 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 Commerce, Georgia
Property taxes in Commerce, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Commerce is 1.22%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Commerce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Commerce 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 Commerce's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30530 ZIP code has the highest median property tax rate of 1.22%, while the same ZIP code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Commerce provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Commerce Tax Rate
1.22%
Average Madison County Tax Rate
1.22%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Commerce, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30530 | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Commerce, Georgia
In Commerce, 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 Madison 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 Commerce, 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 Commerce 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 $2,419 in the 30530 zip code, while the lowest median tax bill is also $2,419 in the same zip code.
Average Commerce Assessed Value
$191,868
Average Madison County Assessed Value
$186,937
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Commerce, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30530 | $47,589 | $87,680 | $191,868 | $316,433 | $458,075 |
Source: Ownwell
Property Tax Bills Across Commerce, Georgia
In Commerce, located in Madison County, GA, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Commerce is $191,868. Homeowners can expect their tax bills to vary significantly based on the assessed value of their property and the specific tax rate applied by local authorities. For instance, the 25th percentile tax bill is $1,216, while the 75th percentile tax bill reaches $3,922, and the 90th percentile tax bill can be as high as $5,614. These tax bills are influenced by various factors, including property location, home size, and any applicable exemptions. The highest median tax bill in Commerce is $2,419, which is consistent across all zip codes in the city. Compared to the national median property tax rate of 0.99%, homeowners in Commerce may find their tax obligations to be relatively moderate, although individual experiences can vary. Understanding these factors helps homeowners better anticipate their annual property tax responsibilities.
Average Commerce Tax Bill
$2,419
Average Madison County Tax Bill
$2,406
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Commerce, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30530 | $651 | $1,216 | $2,419 | $3,922 | $5,614 |
Source: Ownwell