Millwood, Georgia Property Taxes
The median property tax rate in Millwood, GA is 0.87%, which is considerably lower than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Millwood, the typical annual property tax bill reaches $278, significantly below the national median of $2,690. Property taxes in Millwood 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 Millwood'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 Millwood 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
Millwood, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$441
$429
Ownwell’s Millwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millwood 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 Millwood, Georgia
Property taxes in Millwood, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millwood is 1.01%, higher than both the Georgia state median of 0.83% and the U.S. national median of 0.99%. Local government entities within Millwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millwood 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 Millwood's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31552 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Millwood provides valuable insights into the varying tax landscape across Coffee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millwood Tax Rate
0.87%
Average Coffee County Tax Rate
0.89%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31552 | 0.14% | 0.27% | 0.87% | 0.89% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Millwood, Georgia
In Millwood, 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 Coffee 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 Millwood, 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. In Millwood, the median home price is $50,739. The tax bill varies significantly depending on the property, with the 25th percentile at $132 and the 75th percentile at $1,121. The 90th percentile reaches up to $1,626. The highest and lowest median tax bills are both $278, found in the 31552 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Millwood Assessed Value
$50,739
Average Coffee County Assessed Value
$48,124
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31552 | $12,420 | $18,029 | $50,739 | $260,063 | $381,262 |
Source: Ownwell
Property Tax Bills Across Millwood, Georgia
In Millwood, located in Coffee County, GA, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. For homeowners in Millwood, the median home price is $50,739, and tax bills can vary significantly. For instance, the 25th percentile of property tax bills is around $132, while the 75th percentile reaches $1,121, and the 90th percentile can go up to $1,626. These figures show a wide range of tax liabilities, reflecting the diversity in property values and assessments within the area. Compared to the national median property tax rate of 0.99%, Millwood's property taxes can be relatively manageable for some homeowners but may pose a more substantial financial burden for others, depending on their specific property assessments.
Average Millwood Tax Bill
$278
Average Coffee County Tax Bill
$367
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Millwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31552 | $94 | $132 | $278 | $1,121 | $1,626 |
Source: Ownwell