Fargo, Georgia Property Taxes
The median property tax rate in Fargo, GA is 1.33%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Fargo, the typical annual property tax bill reaches $381, which is significantly lower than the national median of $2,690. Property taxes in Fargo 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 Fargo'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 Fargo 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
Fargo, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$426
$395
Ownwell’s Fargo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fargo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fargo 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 Fargo, Georgia
Property taxes in Fargo, Georgia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Fargo is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fargo set these rates annually, and they can vary across different neighborhoods. Each year, Fargo 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 Fargo's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31631 zip code has the highest median property tax rate of 1.33%, while the same zip code also has the lowest median tax rate of 1.33%. Understanding how these cities compare with Fargo provides valuable insights into the varying tax landscape across Clinch County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fargo Tax Rate
1.33%
Average Clinch County Tax Rate
1.30%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fargo, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31631 | 0.92% | 1.14% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Fargo, Georgia
In Fargo, 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 local appraisal authorities 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 Fargo, 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 Fargo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Clinch County, the zip code 31631 has both the highest and lowest median tax bill, at $381.
Average Fargo Assessed Value
$32,000
Average Clinch County Assessed Value
$46,800
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fargo, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31631 | $11,824 | $20,685 | $32,000 | $62,750 | $93,166 |
Source: Ownwell
Property Tax Bills Across Fargo, Georgia
In Fargo, 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 market value of the property. For instance, a median home price in Fargo is $32,000. Property tax rates are applied to this assessed value to determine the final tax bill. Factors that influence the tax bill include the property's location, size, and any applicable exemptions. In Fargo, the tax bill can vary significantly. For example, the tax bill at the 25th percentile is $218, while at the 75th percentile, it is $787. At the 90th percentile, homeowners might see a tax bill as high as $1,242. These property tax bills can have a considerable impact on homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Fargo's property tax rates offer a unique perspective on how local factors can affect tax liabilities.
Average Fargo Tax Bill
$381
Average Clinch County Tax Bill
$564
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Fargo, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31631 | $128 | $218 | $381 | $787 | $1,242 |
Source: Ownwell