Lilly, Georgia Property Taxes
The median property tax rate in Lilly, GA is 1.37%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Lilly at $83,050, the typical annual property tax bill reaches $1,141, exceeding the national median of $2,690. Property taxes in Lilly 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 Lilly'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 Lilly 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
Lilly, Georgia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,160
Ownwell’s Lilly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lilly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lilly 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 Lilly, Georgia
Property taxes in Lilly, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lilly is 1.37%, significantly higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Lilly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lilly 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 Lilly's effective property tax rate to other areas in Georgia and the national median. For comparison, the zip code 31051 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these areas compare with Lilly provides valuable insights into the varying tax landscape across Dooly County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lilly Tax Rate
1.37%
Average Dooly County Tax Rate
1.37%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lilly, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31051 | 1.21% | 1.34% | 1.37% | 1.37% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Lilly, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lilly, Georgia. 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 Dooly 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. 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 example, the median home price in Lilly is $83,050, with tax bills ranging from $652 at the 25th percentile to $2,367 at the 90th percentile. The highest median tax bill is $1,141 in the 31051 zip code, which also has the lowest median tax bill of $1,141. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lilly Assessed Value
$83,050
Average Dooly County Assessed Value
$53,200
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lilly, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31051 | $39,590 | $50,858 | $83,050 | $97,258 | $176,785 |
Source: Ownwell
Property Tax Bills Across Lilly, Georgia
In Lilly, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. The median home price in Lilly is $83,050. To determine the tax bill, local tax rates are applied to this assessed value. Several factors influence the final tax bill, including property improvements and any applicable exemptions. For example, the 25th percentile tax bill in Lilly is $652, while the 75th percentile tax bill is $1,336. At the higher end, the 90th percentile tax bill reaches $2,367. These property tax bills can significantly impact homeowners, influencing their monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, Lilly's property tax rates reflect local economic conditions and funding needs for public services. Homeowners in Lilly should stay informed about their property's assessed value and any changes in local tax rates to manage their finances effectively.
Average Lilly Tax Bill
$1,141
Average Dooly County Tax Bill
$786
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lilly, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31051 | $531 | $652 | $1,141 | $1,336 | $2,367 |
Source: Ownwell