Commerce, Banks County, Georgia Property Taxes
The median property tax rate in Commerce, GA is 0.80%, significantly lower than both the national median of 0.99% and the Georgia state median of 1.08%. With a median home value in Commerce of $200,920, the typical annual property tax bill amounts to $1,478, which is well below the national median of $2,690. Property taxes in Commerce are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Commerce'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 Commerce 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
Commerce, Banks County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,607
$1,492
Ownwell’s Commerce Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Commerce with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Commerce 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 Commerce, Banks County, Georgia
Property taxes in Commerce, Georgia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Commerce is 0.95%, slightly lower than the Georgia state median of 0.92% but below the U.S. national median of 0.99%. Local government entities within Commerce set these rates annually, and they can vary significantly across different neighborhoods. Each year, Commerce 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 Commerce's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30529 zip code has the highest median property tax rate of 0.97%, while the 30530 zip code has the lowest median tax rate of 0.93%. Understanding how these cities compare with Commerce provides valuable insights into the varying tax landscape across Banks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Commerce Tax Rate
0.80%
Average Banks County Tax Rate
0.79%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Commerce, Banks County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30529 | 0.33% | 0.61% | 0.82% | 0.89% | 0.97% |
| 30530 | 0.35% | 0.59% | 0.79% | 0.86% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Commerce, Banks County, Georgia
In Commerce, 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 Banks 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 Commerce, 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 Commerce is $200,920, with the 25th percentile tax bill at $627 and the 75th percentile tax bill at $2,265. The highest median tax bill is $1,577 in the 30530 zip code, while the lowest median tax bill is $1,287 in the 30529 zip code. 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 Commerce helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Commerce, Banks County, Georgia
Source: Ownwell
$119,556
$168,092
$216,628
Average Commerce Assessed Value
$200,920
Average Banks County Assessed Value
$198,598
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Commerce, Banks County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30529 | $59,940 | $86,002 | $163,863 | $288,412 | $383,530 |
| 30530 | $60,888 | $105,798 | $216,628 | $298,211 | $423,915 |
Source: Ownwell
Property Tax Bills Across Commerce, Banks County, Georgia
In Commerce, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Commerce is $200,920. Homeowners in this area can expect their tax bills to vary significantly, with the 25th percentile at $627 and the 75th percentile reaching $2,265. The tax bill for the 90th percentile climbs to $3,089, indicating a considerable range depending on property value and location. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, the highest median tax bill in the region is $1,577 in the 30530 zip code, while the lowest is $1,287 in the 30529 zip code. These variations highlight how local policies and property values can impact what homeowners pay. Compared to the national median property tax rate of 0.99%, Commerce's property tax rates can be either a burden or a relief, depending on individual circumstances.
Average Commerce Tax Bill
$1,478
Average Banks County Tax Bill
$1,442
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Commerce, Banks County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30529 | $282 | $604 | $1,287 | $2,177 | $3,035 |
| 30530 | $336 | $659 | $1,577 | $2,284 | $3,097 |
Source: Ownwell