Five Points, Georgia Property Taxes
The median property tax rate in Five Points, GA is 1.10%, slightly higher than both the national median of 0.99% and Georgia's state median of 1.08%. With the median home value in Five Points, the typical annual property tax bill reaches $3,116, surpassing the national median of $2,690. Property taxes in Five Points 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 Five Points' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Five Points 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
Five Points, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$3,125
$3,035
Ownwell’s Five Points Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Five Points with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Five Points 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 Five Points, Georgia
Property taxes in Five Points, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Five Points is 0.83%, lower than both the Georgia state median of 0.92% and the U.S. national median of 0.99%. Local government entities within Five Points set these rates annually, and they can vary significantly across different neighborhoods. Each year, Five Points 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 Five Points' effective property tax rate to other counties in Georgia and the national median. For comparison, the 30241 zip code has the highest median property tax rate of 0.83%, while the 30241 zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Five Points provides valuable insights into the varying tax landscape across Troup County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Five Points Tax Rate
1.10%
Average Troup County Tax Rate
1.12%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Five Points, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36855 | 0.68% | 1.09% | 1.10% | 1.10% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Five Points, Georgia
In Five Points, 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 Troup 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 Five Points, 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 Five Points helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 36855, with a tax bill of $3,116, while the zip code with the lowest median tax bill is also 36855, with a tax bill of $3,116.
Average Five Points Assessed Value
$284,050
Average Troup County Assessed Value
$135,885
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Five Points, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36855 | $179,446 | $244,900 | $284,050 | $299,100 | $333,582 |
Source: Ownwell
Property Tax Bills Across Five Points, Georgia
In Five Points, Troup County, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. Homeowners in this area face a property tax system that considers factors like the market value of the property, local tax rates, and any applicable exemptions. The median home price in Five Points is $284,050, which significantly influences the tax bill. For instance, homeowners at the 25th percentile pay around $2,679, while those at the 75th percentile see bills closer to $3,339. At the 90th percentile, the tax bill can reach up to $3,691. These figures illustrate the range of property tax burdens based on home values within the community. Compared to the national median property tax rate of 0.99%, the property taxes in Five Points can be relatively high, impacting homeowners' monthly budgets. Understanding how these factors interplay is crucial for homeowners aiming to manage their property tax liabilities effectively.
Average Five Points Tax Bill
$3,116
Average Troup County Tax Bill
$1,420
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Five Points, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 36855 | $1,406 | $2,679 | $3,116 | $3,339 | $3,691 |
Source: Ownwell