Bostwick, Georgia Property Taxes
The median property tax rate in Bostwick, GA is 1.02%, slightly higher than the national median of 0.99% but lower than the Georgia state median of 1.08%. With a median home value of $176,431 in Bostwick, the typical annual property tax bill amounts to $1,798, which is below the national median of $2,690. Property taxes in Bostwick are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Bostwick’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 Bostwick or another part of Morgan County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bostwick, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,800
$1,748
Ownwell’s Bostwick Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Bostwick using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bostwick to provide an estimate of 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 Morgan County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bostwick, Georgia
Property taxes in Bostwick, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bostwick is 1.02%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Bostwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bostwick 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 Bostwick's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30623 zip code has both the highest and lowest median property tax rate of 1.02%. Understanding how these cities compare with Bostwick provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bostwick Tax Rate
1.02%
Average Morgan County Tax Rate
0.98%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bostwick, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30623 | 0.98% | 1.02% | 1.02% | 1.02% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Bostwick, Georgia
In Bostwick, 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 Morgan 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 Bostwick, 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. Bostwick's median home price stands at $176,431, with tax bills ranging from $1,231 at the 25th percentile to $4,532 at the 90th percentile. The highest and lowest median tax bills are both $1,798, found in zip code 30623. 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 Bostwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bostwick Assessed Value
$176,431
Average Morgan County Assessed Value
$223,250
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bostwick, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30623 | $92,912 | $120,737 | $176,431 | $298,967 | $463,150 |
Source: Ownwell
Property Tax Bills Across Bostwick, Georgia
In Bostwick, GA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local county assessor determines the market value, and then the assessed value is typically a fraction of that amount. Homeowners in Bostwick can expect property tax bills that reflect these assessed values, with the median home price being $176,431. Several factors influence the final tax bill, including the property’s location within Morgan County and specific exemptions that may apply. For example, the 25th percentile of tax bills in Bostwick is $1,231, while the 75th percentile reaches $3,047, and the 90th percentile can go as high as $4,532. This variation shows how different factors, such as property improvements and neighborhood developments, can affect individual tax bills. Compared to the national median property tax rate of 0.99%, homeowners in Bostwick experience a diverse range of tax bills, influenced by local assessments and policies. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Bostwick Tax Bill
$1,798
Average Morgan County Tax Bill
$2,264
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Bostwick, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30623 | $947 | $1,231 | $1,798 | $3,047 | $4,532 |
Source: Ownwell