Lone Oak, Georgia Property Taxes
The median property tax rate in Lone Oak, GA is 1.37%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Lone Oak, the typical annual property tax bill reaches $1,298, exceeding the national median of $2,690. Property taxes in Lone Oak 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 Lone Oak'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 Lone Oak 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
Lone Oak, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$1,295
$1,258
Ownwell’s Lone Oak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lone Oak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lone Oak 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 Lone Oak, Georgia
Property taxes in Lone Oak, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lone Oak is 0.92%, which is lower than both the Georgia state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Lone Oak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lone Oak 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 Lone Oak's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30230 zip code has the highest median property tax rate of 1.37%, while the 30220 zip code has the lowest median tax rate of 1.37%. Understanding how these cities compare with Lone Oak provides valuable insights into the varying tax landscape across Meriwether County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lone Oak Tax Rate
1.37%
Average Meriwether County Tax Rate
1.38%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lone Oak, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30220 | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% |
| 30230 | 1.37% | 1.37% | 1.37% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Lone Oak, Georgia
In Lone Oak, 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 Meriwether 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 Lone Oak, 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 Lone Oak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $1485 in the 30230 zip code, while the lowest is $1298 in the 30220 zip code.
Average Lone Oak Assessed Value
$94,505
Average Meriwether County Assessed Value
$91,140
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lone Oak, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30220 | $58,395 | $75,725 | $94,505 | $143,562 | $231,830 |
| 30230 | $56,040 | $73,725 | $108,150 | $227,428 | $357,500 |
Source: Ownwell
Property Tax Bills Across Lone Oak, Georgia
Property tax bills in Lone Oak, located in Meriwether County, GA, are calculated based on the assessed value of a property. To determine the tax bill, the local government first assesses the market value of the property. This assessed value is then multiplied by the local tax rate. For context, the national median property tax rate is 0.99%. Homeowners in Lone Oak experience a range of property tax bills. For instance, the tax bill at the 25th percentile is around $1,012, while at the 75th percentile, it reaches approximately $2,410. At the 90th percentile, homeowners might see a tax bill as high as $4,512. The highest median tax bill in the area is $1,485, observed in the 30230 zip code, whereas the lowest median tax bill is $1,298 in the 30220 zip code. These variations affect homeowners differently, influencing their annual financial planning and overall cost of homeownership.
Average Lone Oak Tax Bill
$1,298
Average Meriwether County Tax Bill
$1,393
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lone Oak, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30220 | $802 | $1,040 | $1,298 | $1,971 | $3,199 |
| 30230 | $770 | $1,012 | $1,485 | $3,123 | $4,935 |
Source: Ownwell