Colquitt, Georgia Property Taxes
The median property tax rate in Colquitt, GA is 1.13%, which is higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Colquitt, the typical annual property tax bill reaches $1,178, falling below the national median of $2,690. Property taxes in Colquitt 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 Colquitt'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 Colquitt 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
Colquitt, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.13%
Estimate Property Tax Bill
$1,395
$1,355
Ownwell’s Colquitt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colquitt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colquitt 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 Colquitt, Georgia
Property taxes in Colquitt, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colquitt is 1.13%, significantly higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Colquitt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colquitt 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 Colquitt's effective property tax rate to other counties in Georgia and the national median. For comparison, the 39837 zip code has the highest median property tax rate of 1.13%, while the same 39837 zip code also has the lowest median tax rate of 1.13%. Understanding how these cities compare with Colquitt provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colquitt Tax Rate
1.13%
Average Decatur County Tax Rate
1.16%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colquitt, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39837 | 0.69% | 0.98% | 1.13% | 1.16% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Colquitt, Georgia
In Colquitt, 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 Decatur 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 Colquitt, 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 Colquitt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Colquitt is 39837, with a median tax bill of $1,178.
Average Colquitt Assessed Value
$123,426
Average Decatur County Assessed Value
$105,240
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colquitt, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39837 | $27,969 | $49,405 | $123,426 | $220,690 | $415,044 |
Source: Ownwell
Property Tax Bills Across Colquitt, Georgia
In Colquitt, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is typically a percentage of the property's market value. For instance, with a median home price of $123,426, the assessed value would be a portion of this amount, depending on local assessment rates. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Colquitt, homeowners can expect a range of tax bills; the 25th percentile tax bill is around $542, while the 75th percentile tax bill reaches up to $2,121, and the 90th percentile peaks at $2,979. Compared to the national median property tax rate of 0.99%, homeowners in Colquitt may find their tax rates to be relatively moderate, though individual experiences can vary widely. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Colquitt Tax Bill
$1,178
Average Decatur County Tax Bill
$1,188
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Colquitt, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39837 | $283 | $542 | $1,178 | $2,121 | $2,979 |
Source: Ownwell