Lula, Banks County, Georgia Property Taxes
The median property tax rate in Lula, GA is 0.80%, which is notably lower than both the national median of 0.99% and the Georgia state median of 1.08%. With a median home value of $213,370 in Lula, the typical annual property tax bill amounts to $1,600, falling below the national median of $2,690. Property taxes in Lula are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lula'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 Lula or elsewhere in Banks County, gaining insight into the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Lula, Banks County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$1,707
$1,584
Ownwell’s Lula Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lula with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lula 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 Lula, Banks County, Georgia
Property taxes in Lula, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lula is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Lula set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lula 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 Lula's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 30554 has both the highest and lowest median property tax rate of 0.80%. Understanding how these areas compare with Lula 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 Lula 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 Lula, Banks County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30554 | 0.41% | 0.61% | 0.80% | 0.90% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Lula, Banks County, Georgia
In Lula, 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 Lula, 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 Lula 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 30554, with a median of $1,600, while the lowest median tax bill is also in 30554, at $1,600.
Property Tax Assessment Values Across Lula, Banks County, Georgia
Source: Ownwell
$119,556
$168,092
$216,628
Average Lula Assessed Value
$213,370
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 Lula, Banks County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30554 | $75,322 | $125,106 | $213,370 | $272,014 | $399,374 |
Source: Ownwell
Property Tax Bills Across Lula, Banks County, Georgia
Property tax bills in Lula, located in Banks County, GA, are determined by a combination of the property's assessed value and the local tax rate. The assessed value is typically a percentage of the property's market value, which in Lula's case involves a median home price of $213,370. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property size, location, and any applicable exemptions can influence the final amount. For homeowners in Lula, property tax bills can vary significantly. For example, tax bills at the 25th percentile are around $872, while those at the 75th percentile reach up to $2,225. At the 90th percentile, tax bills can be as high as $2,874. Compared to the national median property tax rate of 0.99%, homeowners in Lula experience a range of tax obligations. This variability in tax bills can affect homeowners' financial planning and long-term investment decisions.
Average Lula Tax Bill
$1,600
Average Banks County Tax Bill
$1,442
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lula, Banks County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30554 | $391 | $872 | $1,600 | $2,225 | $2,874 |
Source: Ownwell