Norwood, Georgia Property Taxes
The median property tax rate in Norwood, GA is 1.18%, which is notably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With a median home value of $40,022 in Norwood, the typical annual property tax bill amounts to $422, well below the national median of $2,690. Property taxes in Norwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Norwood'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 Norwood 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
Norwood, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$472
$459
Ownwell’s Norwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Norwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norwood 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 Norwood, Georgia
Property taxes in Norwood, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norwood is 1.18%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Norwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norwood 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 Norwood's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30821 zip code has the highest median property tax rate of 1.18%, while the 30821 zip code has the lowest median tax rate of 1.18%. Understanding how these cities compare with Norwood provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Norwood Tax Rate
1.18%
Average Warren County Tax Rate
1.20%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30821 | 0.74% | 0.95% | 1.18% | 1.24% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Norwood, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Norwood, GA. 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 Warren 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 Norwood, 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. For instance, the median home price in Norwood is $40,022, with tax bills ranging from $167 at the 25th percentile to $1,489 at the 90th percentile. Notably, the zip code 30821 has both the highest and lowest median tax bill at $422. Being aware of these valuation processes in Norwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Norwood Assessed Value
$40,022
Average Warren County Assessed Value
$44,621
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Norwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30821 | $6,984 | $17,022 | $40,022 | $76,634 | $155,467 |
Source: Ownwell
Property Tax Bills Across Norwood, Georgia
In Norwood, GA, property tax bills are calculated based on the assessed value of homes, which is a percentage of the market value determined by the county assessor. The median home price in Norwood is $40,022. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $167 and the 75th percentile reaching $847. For those at the 90th percentile, the tax bill can be as high as $1,489. Several factors influence the tax bill, including property size, improvements, and local tax rates. The assessed value is multiplied by the local tax rate to determine the final bill. In Warren County, where Norwood is located, the median tax bill stands at $422, which is significantly lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure maintenance. For homeowners, understanding these factors can help in budgeting and financial planning, ensuring they are prepared for annual property tax obligations.
Average Norwood Tax Bill
$422
Average Warren County Tax Bill
$491
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Norwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30821 | $70 | $167 | $422 | $847 | $1,489 |
Source: Ownwell