Meldrim, Georgia Property Taxes
The median property tax rate in Meldrim, GA is 1.07%, slightly higher than the national median of 0.99% but just below the Georgia state median of 1.08%. With the median home value in Meldrim at $111,137, the typical annual property tax bill amounts to $1,226, which is below the national median of $2,690. Property taxes in Meldrim are determined based on the tax assessed value, which is generally lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Meldrim'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 Meldrim or another part of Effingham County, getting a grasp on the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Meldrim, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$1,189
$1,104
Ownwell’s Meldrim Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meldrim with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meldrim 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 Meldrim, Georgia
Property taxes in Meldrim, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Meldrim is 1.07%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Meldrim set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meldrim 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 Meldrim's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31318 zip code has both the highest and lowest median property tax rate of 1.07%. Understanding how these cities compare with Meldrim provides valuable insights into the varying tax landscape across Effingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meldrim Tax Rate
1.07%
Average Effingham County Tax Rate
1.03%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meldrim, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31318 | 0.45% | 0.77% | 1.07% | 1.74% | 2.12% |
Source: Ownwell
Property Tax Assessment Values Across Meldrim, Georgia
In Meldrim, 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 Effingham 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. 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 Meldrim helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Meldrim is $111,137, with tax bills ranging significantly. For instance, the highest median tax bill is $1,226 in the 31318 zip code.
Average Meldrim Assessed Value
$111,137
Average Effingham County Assessed Value
$198,122
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meldrim, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31318 | $41,364 | $71,171 | $111,137 | $154,432 | $227,608 |
Source: Ownwell
Property Tax Bills Across Meldrim, Georgia
In Meldrim, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. For homeowners, this means the local tax rate is applied to the assessed value to determine the annual tax bill. Several factors are considered, including the home's market value, local tax rates, and any applicable exemptions. For example, the median home price in Meldrim is $111,137, and property tax bills can vary significantly. The 25th percentile tax bill is around $615, while the 75th percentile tax bill reaches $1,924, and the 90th percentile can go up to $2,508. These tax bills can have a substantial impact on homeowners, affecting monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, the rates in Meldrim reflect the local economic conditions and funding needs of Effingham County. Consequently, understanding how these factors interplay is crucial for homeowners looking to manage their annual property expenses effectively.
Average Meldrim Tax Bill
$1,226
Average Effingham County Tax Bill
$1,958
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Meldrim, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31318 | $394 | $615 | $1,226 | $1,924 | $2,508 |
Source: Ownwell