Monroe, Georgia Property Taxes
The median property tax rate in Monroe, GA is 0.86%, which is lower than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Monroe at $234,986, the typical annual property tax bill amounts to $1,952, which is below the national median of $2,690. Property taxes in Monroe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Monroe'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 Monroe 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
Monroe, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$2,021
$1,875
Ownwell’s Monroe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monroe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monroe 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 Monroe, Georgia
Property taxes in Monroe, Georgia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monroe is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Monroe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monroe 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 Monroe's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 30656 has both the highest and lowest median property tax rate of 0.86%. Understanding how these areas compare with Monroe provides valuable insights into the varying tax landscape across Barrow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monroe Tax Rate
0.86%
Average Barrow County Tax Rate
0.85%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monroe, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30656 | 0.62% | 0.75% | 0.86% | 0.96% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Monroe, Georgia
In Monroe, 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 Barrow 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 Monroe, 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 Monroe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Monroe both stand at $1952, found in the 30656 zip code.
Average Monroe Assessed Value
$234,986
Average Barrow County Assessed Value
$263,792
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monroe, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30656 | $122,337 | $186,478 | $234,986 | $279,083 | $428,486 |
Source: Ownwell
Property Tax Bills Across Monroe, Georgia
In Monroe, located in Barrow County, GA, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value. For homeowners in Monroe, the median home price stands at $234,986. Property tax bills in the area vary, with the 25th percentile at $1,681 and the 75th percentile at $2,316. At the higher end, the 90th percentile sees tax bills around $3,469. The highest and lowest median tax bills are both recorded at $1,952 in the 30656 zip code. Compared to the national median property tax rate of 0.99%, Monroe's tax rates and assessed values significantly impact homeowners' annual expenses, influencing their financial planning and property investment decisions.
Average Monroe Tax Bill
$1,952
Average Barrow County Tax Bill
$2,206
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Monroe, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30656 | $915 | $1,681 | $1,952 | $2,316 | $3,469 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | September 1 |
| Due Date #1 | September 15 |
| Due Date #2 | November 15 |
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