Silver Creek, Georgia Property Taxes
The median property tax rate in Silver Creek, GA is 0.98%, slightly lower than both the national median of 0.99% and Georgia's state median of 1.08%. With the median home value in Silver Creek, the typical annual property tax bill reaches $1,428, which is below the national median of $2,690. Property taxes in Silver Creek are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Silver Creek'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 Silver Creek 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
Silver Creek, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$1,456
$1,414
Ownwell’s Silver Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silver Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silver Creek 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 Silver Creek, Georgia
Property taxes in Silver Creek, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silver Creek is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Silver Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silver Creek 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 Silver Creek's effective property tax rate to other areas in Floyd County and the national median. For comparison, the 30173 zip code has the highest median property tax rate of 0.98%, while the same zip code also has the lowest median tax rate of 0.98%. Understanding how these figures compare with Silver Creek provides valuable insights into the varying tax landscape across Floyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silver Creek Tax Rate
0.98%
Average Floyd County Tax Rate
1.19%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silver Creek, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30173 | 0.32% | 0.65% | 0.98% | 1.40% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Silver Creek, Georgia
In Silver Creek, 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 Floyd 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 Silver Creek, 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 Silver Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Silver Creek, zip code 30173 has both the highest and lowest median tax bill of $1,428.
Average Silver Creek Assessed Value
$148,583
Average Floyd County Assessed Value
$141,916
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silver Creek, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30173 | $53,712 | $102,142 | $148,583 | $208,986 | $291,353 |
Source: Ownwell
Property Tax Bills Across Silver Creek, Georgia
In Silver Creek, GA, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. For homeowners, the assessed value is multiplied by the local tax rate set by Floyd County authorities. This rate is applied to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value, thus affecting the tax bill. In Silver Creek, the median home price is $148,583. Homeowners in the 25th percentile can expect a tax bill around $704, while those in the 75th percentile might see bills closer to $2,145. The highest median tax bill in the area is approximately $1,428, which aligns with the national median property tax rate of 0.99%. This system ensures that property taxes are proportionate to the value of the home, making it essential for homeowners to stay informed about their property's assessed value and any changes in local tax rates.
Average Silver Creek Tax Bill
$1,428
Average Floyd County Tax Bill
$1,460
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Silver Creek, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30173 | $283 | $704 | $1,428 | $2,145 | $3,083 |
Source: Ownwell