Bishop, Georgia Property Taxes
The median property tax rate in Bishop, GA is 0.85%, which is lower than both the national median of 0.99% and Georgia's state median of 1.08%. With the median home value in Bishop, the typical annual property tax bill reaches $3,310, surpassing the national median of $2,690. Property taxes in Bishop are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bishop'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 Bishop 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
Bishop, 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 Bishop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bishop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bishop 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 Bishop, Georgia
Property taxes in Bishop, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bishop is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Bishop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bishop 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 Bishop's effective property tax rate to other areas in Georgia and the national median. For comparison, the zip code 30621 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Bishop provides valuable insights into the varying tax landscape across Oconee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bishop Tax Rate
0.85%
Average Oconee County Tax Rate
0.83%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bishop, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30621 | 0.53% | 0.77% | 0.85% | 0.91% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Bishop, Georgia
In Bishop, 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 Oconee 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 Bishop, 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. The median home price in Bishop is $419,396, with tax bills ranging from $1,969 at the 25th percentile to $4,321 at the 75th percentile, and up to $5,434 at the 90th percentile. 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 Bishop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bishop Assessed Value
$419,396
Average Oconee County Assessed Value
$356,314
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bishop, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30621 | $156,450 | $251,524 | $419,396 | $522,352 | $667,234 |
Source: Ownwell
Property Tax Bills Across Bishop, Georgia
In Bishop, located in Oconee County, GA, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate, or millage rate, is then applied to this assessed value to determine the tax bill. For example, if the median home price is $419,396, the assessed value might be a fraction of this amount, depending on local regulations. Several factors influence the final tax bill, including property location, size, and any applicable exemptions. Homeowners in Bishop can expect tax bills to vary significantly; the 25th percentile tax bill is around $1,969, while the 75th percentile is approximately $4,321. The highest median tax bill in the area is $3,310, which is higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Bishop Tax Bill
$3,310
Average Oconee County Tax Bill
$2,870
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Bishop, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30621 | $1,067 | $1,969 | $3,310 | $4,321 | $5,434 |
Source: Ownwell