Lexington, Georgia Property Taxes
The median property tax rate in Lexington, GA is 1.21%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Lexington, the typical annual property tax bill reaches $1,564, which is below the national median of $2,690. Property taxes in Lexington 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 Lexington'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 Lexington 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
Lexington, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,617
$1,570
Ownwell’s Lexington Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lexington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lexington to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lexington, Georgia
Property taxes in Lexington, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lexington is 1.21%, which is significantly higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Lexington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lexington 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 Lexington's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30648 zip code has the highest median property tax rate of 1.21%, while the 30648 zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Lexington provides valuable insights into the varying tax landscape across Oglethorpe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lexington Tax Rate
1.21%
Average Oglethorpe County Tax Rate
1.21%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lexington, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30648 | 1.02% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Lexington, Georgia
In Lexington, 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 Oglethorpe 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 Lexington, 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. For example, the median home price in Lexington is $133,605, with tax bills ranging from $723 at the 25th percentile to $3,852 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,564, found in the 30648 zip code. By understanding 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 Lexington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lexington Assessed Value
$133,605
Average Oglethorpe County Assessed Value
$151,500
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lexington, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30648 | $33,414 | $62,625 | $133,605 | $222,122 | $323,722 |
Source: Ownwell
Property Tax Bills Across Lexington, Georgia
In Lexington, GA, located in Oglethorpe County, property tax bills are determined based on the assessed value of a home. The assessed value is calculated as a percentage of the market value, which is then multiplied by the local tax rate. For instance, if a home in Lexington has a median home price of $133,605, the assessed value is a portion of this market value. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Lexington can expect a range of property tax bills. For example, at the 25th percentile, the tax bill is around $723, while at the 75th percentile, it reaches approximately $2,650. At the 90th percentile, the tax bill can be as high as $3,852. Compared to the national median property tax rate of 0.99%, the property tax rates in Lexington can vary significantly, impacting homeowners' financial planning. Understanding these factors helps residents anticipate their annual property tax obligations and manage their budgets effectively.
Average Lexington Tax Bill
$1,564
Average Oglethorpe County Tax Bill
$1,776
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lexington, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30648 | $398 | $723 | $1,564 | $2,650 | $3,852 |
Source: Ownwell