Iron City, Georgia Property Taxes
The median property tax rate in Iron City, GA is 0.67%, significantly lower than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Iron City, the typical annual property tax bill amounts to $2,629, which is slightly below the national median of $2,690. Property taxes in Iron City are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Iron City'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 Iron City 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
Iron City, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$2,626
$2,436
Ownwell’s Iron City Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Iron City with just two key inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Iron City to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Iron City, Georgia
Property taxes in Iron City, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Iron City is 0.67%, which is lower than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Iron City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Iron City 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 Iron City's effective property tax rate to other counties in Georgia and the national median. For comparison, the 39859 zip code has both the highest and the lowest median property tax rate of 0.67%. Understanding how these cities compare with Iron City 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 Iron City Tax Rate
0.67%
Average Decatur County Tax Rate
1.16%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iron City, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39859 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Iron City, Georgia
In Iron City, 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 Iron City, 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. For instance, the median home price in Iron City stands at $391,878, with the median tax bill at $2,629. 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 Iron City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Iron City Assessed Value
$391,878
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 Iron City, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39859 | $391,878 | $391,878 | $391,878 | $391,878 | $391,878 |
Source: Ownwell
Property Tax Bills Across Iron City, Georgia
In Iron City, located in Decatur County, GA, property tax bills are calculated based on the assessed value of a property. The local tax authorities determine the assessed value, which is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to calculate the property tax bill. Factors considered include the property's location, size, and any improvements or renovations made. For homeowners in Iron City, the median home price is $391,878, and property tax bills range from $2,629 at the 25th percentile to the 90th percentile. This consistency in tax bills indicates a stable local tax rate. Compared to the national median property tax rate of 0.99%, Iron City's tax rate provides a clear picture of the local tax burden. Homeowners should be aware that property taxes can impact their overall cost of homeownership, influencing decisions on buying or selling property within the city.
Average Iron City Tax Bill
$2,629
Average Decatur County Tax Bill
$1,188
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Iron City, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39859 | $2,629 | $2,629 | $2,629 | $2,629 | $2,629 |
Source: Ownwell