Folkston, Georgia Property Taxes
The median property tax rate in Folkston, GA is 1.25%, significantly higher than both the national median of 0.99% and Georgia's state median of 1.08%. With a median home value of $42,985, the typical annual property tax bill in Folkston amounts to $551, which is considerably lower than the national median of $2,690. Property taxes in Folkston are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Folkston's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in the heart of Folkston or another part of the county, comprehending the local property tax framework is essential for maximizing financial benefits.
Last Updated June 14, 2024
Folkston, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$537
$499
Ownwell’s Folkston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Folkston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Folkston 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 Folkston, Georgia
Property taxes in Folkston, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Folkston 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 Folkston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Folkston 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 Folkston's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31537 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these areas compare with Folkston provides valuable insights into the varying tax landscape across Brantley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Folkston Tax Rate
1.25%
Average Brantley County Tax Rate
1.30%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Folkston, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31537 | 1.16% | 1.18% | 1.25% | 1.28% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Folkston, Georgia
In Folkston, 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 Brantley 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 Folkston, 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 Folkston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Brantley County, the highest median tax bill is $551.00 in the 31537 zip code, while the lowest median tax bill is also $551.00 in the same zip code.
Average Folkston Assessed Value
$42,985
Average Brantley County Assessed Value
$59,670
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Folkston, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31537 | $25,143 | $25,976 | $42,985 | $57,218 | $78,428 |
Source: Ownwell
Property Tax Bills Across Folkston, Georgia
In Folkston, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the home's market value. Homeowners in Folkston, located in Brantley County, GA, face property tax bills that can vary significantly. The median home price in this area is $42,985, and tax bills can range widely depending on the assessed value and applicable tax rates. For instance, the 25th percentile tax bill is around $305, while the 75th percentile tax bill reaches $693. At the 90th percentile, homeowners may see tax bills as high as $1,007. These variations are influenced by factors such as property size, location, and any applicable exemptions. The highest median tax bill recorded in the area is $551, which is relatively modest compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Folkston Tax Bill
$551
Average Brantley County Tax Bill
$757
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Folkston, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31537 | $291 | $305 | $551 | $693 | $1,007 |
Source: Ownwell