Preston, Georgia Property Taxes
The median property tax rate in Preston, Georgia is 1.04%, 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 $42,200 in Preston, the typical annual property tax bill is $440, which is significantly less than the national median of $2,690. Property taxes in Preston are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Preston'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 Preston 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
Preston, Georgia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,160
Ownwell’s Preston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Preston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Preston 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 Preston, Georgia
Property taxes in Preston, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Preston is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Preston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Preston 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 Preston's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31824 zip code has the highest median property tax rate of 1.04%, while the 31824 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Preston provides valuable insights into the varying tax landscape across Webster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Preston Tax Rate
1.04%
Average Webster County Tax Rate
1.04%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Preston, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31824 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Preston, Georgia
In Preston, 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 local 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 Preston, 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 Preston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 31824 has the highest and lowest median tax bill, both at $440.
Average Preston Assessed Value
$42,200
Average Webster County Assessed Value
$44,300
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Preston, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31824 | $9,400 | $19,682 | $42,200 | $72,220 | $121,005 |
Source: Ownwell
Property Tax Bills Across Preston, Georgia
In Preston, located in Webster County, GA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Preston is $42,200. Property taxes are then calculated by applying the local tax rate to this assessed value. For homeowners in Preston, the tax bill varies significantly, with the 25th percentile at $205 and the 75th percentile reaching $754. At the 90th percentile, homeowners could see tax bills as high as $1,263. The highest median tax bill recorded in the region is $440, which is consistent across the zip code 31824. These property taxes fund essential services such as schools, public safety, and infrastructure. Homeowners in Preston experience a relatively lower property tax rate compared to the national median of 0.99%, making it a more affordable area for property taxes. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Preston Tax Bill
$440
Average Webster County Tax Bill
$460
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Preston, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31824 | $98 | $205 | $440 | $754 | $1,263 |
Source: Ownwell