Lenox, Colquitt County, Georgia Property Taxes
The median property tax rate in Lenox, GA is 0.83%, 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 Lenox at $162,921, the typical annual property tax bill amounts to $1,285, significantly below the national median of $2,690. Property taxes in Lenox are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Lenox's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lenox or elsewhere in the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lenox, Colquitt County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$1,352
$1,255
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, Colquitt County, Georgia
Property taxes in Lenox, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenox is 0.79%, which is significantly lower than both the Georgia state median of 0.91% 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 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Lenox provides valuable insights into the varying tax landscape across Cook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenox Tax Rate
0.83%
Average Colquitt County Tax Rate
0.91%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenox, Colquitt County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31637 | 0.58% | 0.77% | 0.83% | 0.89% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Lenox, Colquitt County, 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 Colquitt 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. The highest median tax bill in Lenox is $1,285 in the 31637 zip code, while the lowest median tax bill is also $1,285 in the same zip code.
Property Tax Assessment Values Across Lenox, Colquitt County, Georgia
Source: Ownwell
$33,824
$100,155
$166,486
Average Lenox Assessed Value
$162,921
Average Colquitt County Assessed Value
$87,526
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenox, Colquitt County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31637 | $46,029 | $58,842 | $162,921 | $261,534 | $452,822 |
Source: Ownwell
Property Tax Bills Across Lenox, Colquitt County, Georgia
In Lenox, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Colquitt County can expect their property tax bills to vary significantly depending on the value of their property. For instance, the median home price in Lenox is $162,921. Property tax bills can range widely, with the 25th percentile at $556 and the 75th percentile reaching $1,839. At the higher end, the 90th percentile sees tax bills up to $3,257. These tax bills are influenced by various factors, including the home's assessed value and the local tax rate. The national median property tax rate is 0.99%, providing a benchmark for comparison. For homeowners, high property taxes can impact affordability and overall cost of living. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Lenox Tax Bill
$1,285
Average Colquitt County Tax Bill
$845
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenox, Colquitt County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31637 | $350 | $556 | $1,285 | $1,839 | $3,257 |
Source: Ownwell