Lenox, Georgia Property Taxes
The median property tax rate in Lenox, GA is 1.23%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Lenox, the typical annual property tax bill reaches $894, which is significantly lower than the national median of $2,690. Property taxes in Lenox 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 Lenox'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 Lenox 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
Lenox, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$914
$848
Ownwell’s Lenox Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lenox with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenox 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 Lenox, Georgia
Property taxes in Lenox, Georgia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenox is 0.83%, which is lower than both the Georgia state median of 0.92% and the U.S. national median of 0.99%. Local government entities within Lenox set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenox 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 Lenox's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31637 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these areas compare with Lenox provides valuable insights into the varying tax landscape across Berrien County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenox Tax Rate
1.23%
Average Berrien County Tax Rate
1.23%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenox, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31637 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Lenox, Georgia
In Lenox, 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 Berrien 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 Lenox, 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 Lenox helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in the 31637 zip code, the median tax bill is $894.
Average Lenox Assessed Value
$74,326
Average Berrien County Assessed Value
$68,674
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenox, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31637 | $17,613 | $35,528 | $74,326 | $135,763 | $225,379 |
Source: Ownwell
Property Tax Bills Across Lenox, Georgia
In Lenox, property tax bills are calculated based on the assessed value of a home, which is determined by the Berrien County tax assessor. This assessed value is typically a percentage of the property's market value. The tax rate, or millage rate, is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions or deductions. For example, homeowners in Lenox with a median home price of $74,326 can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $422, while at the 75th percentile, it rises to approximately $1,654. For those in the 90th percentile, the tax bill can be as high as $2,866. These variations highlight the impact of property values and local tax rates on homeowners. Compared to the national median property tax rate of 0.99%, Lenox's rates can either be a burden or a relief, depending on individual circumstances.
Average Lenox Tax Bill
$894
Average Berrien County Tax Bill
$920
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenox, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31637 | $214 | $422 | $894 | $1,654 | $2,866 |
Source: Ownwell