Forsyth, Georgia Property Taxes
The median property tax rate in Forsyth, GA is 0.78%, significantly lower than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Forsyth at $305,336, the typical annual property tax bill amounts to $2,252, which is below the national median of $2,690. Property taxes in Forsyth are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Forsyth's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in the heart of Forsyth or elsewhere in the city, familiarizing yourself with the local property tax system can be highly advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Forsyth, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,382
$2,313
Ownwell’s Forsyth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forsyth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forsyth 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 Forsyth, Georgia
Property taxes in Forsyth, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forsyth is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Forsyth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forsyth 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 Forsyth's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31029 zip code has the highest median property tax rate of 0.78%, while the same 31029 zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Forsyth provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forsyth Tax Rate
0.78%
Average Butts County Tax Rate
0.88%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forsyth, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31029 | 0.35% | 0.66% | 0.78% | 0.83% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Forsyth, Georgia
In Forsyth, 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 Butts 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 Forsyth, 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 Forsyth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Forsyth Assessed Value
$305,336
Average Butts County Assessed Value
$229,607
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forsyth, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31029 | $161,509 | $272,217 | $305,336 | $358,230 | $379,810 |
Source: Ownwell
Property Tax Bills Across Forsyth, Georgia
In Forsyth, GA, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate, or millage rate, is then applied to this assessed value to determine the tax bill. For example, if a home has an assessed value of $305,336 and the local tax rate is applied, the tax bill can vary significantly depending on the specific rate and any applicable exemptions. Homeowners in Forsyth can expect their tax bills to fall within a range, with the 25th percentile at $882 and the 75th percentile reaching $2,390. The 90th percentile tax bill is $2,526, indicating that higher-valued properties or those without exemptions can see substantial tax amounts. This range shows that while some homeowners benefit from lower tax bills, others may face higher costs, impacting their annual financial planning. Compared to the national median property tax rate of 0.99%, Forsyth’s property taxes can either be a burden or a manageable expense, depending on individual circumstances.
Average Forsyth Tax Bill
$2,252
Average Butts County Tax Bill
$1,937
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Forsyth, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31029 | $658 | $882 | $2,252 | $2,390 | $2,526 |
Source: Ownwell