Martin, Franklin County, Georgia Property Taxes
The median property tax rate in Martin, GA is 1.01%, slightly higher than the national median of 0.99% but lower than the Georgia state median of 1.08%. With the median home value in Martin at $136,010, the typical annual property tax bill reaches $1,172, which is below the national median of $2,690. Property taxes in Martin are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Martin'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 Martin 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
Martin, Franklin County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,374
$1,275
Ownwell’s Martin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Martin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martin 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 Martin, Franklin County, Georgia
Property taxes in Martin, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martin is 1.01%, slightly higher than the U.S. national median of 0.99%. Local government entities within Martin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martin 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 Martin's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30557 zip code has the highest median property tax rate of 1.01%, while the same zip code also has the lowest median tax rate of 1.01%. Understanding how these cities compare with Martin provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martin Tax Rate
1.01%
Average Franklin County Tax Rate
1.03%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martin, Franklin County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30557 | 0.51% | 0.79% | 1.01% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Martin, Franklin County, Georgia
In Martin, 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 Franklin 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 Martin, 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 Martin 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 is 30557, with a median tax bill of $1,172.
Property Tax Assessment Values Across Martin, Franklin County, Georgia
Source: Ownwell
$97,612
$132,215
$166,817
Average Martin Assessed Value
$136,010
Average Franklin County Assessed Value
$136,560
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martin, Franklin County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30557 | $25,869 | $53,387 | $136,010 | $241,080 | $390,827 |
Source: Ownwell
Property Tax Bills Across Martin, Franklin County, Georgia
In Martin, GA, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county assessor determines this assessed value, and then the local tax rate is applied. For example, with a median home price of $136,010, homeowners in Martin can expect a wide range of tax bills. The 25th percentile tax bill is approximately $432, while the 75th percentile is around $2,085. At the higher end, the 90th percentile tax bill can reach up to $3,420. Several factors influence the final tax bill, including the property's location within Franklin County, any applicable exemptions, and changes in market conditions. Compared to the national median property tax rate of 0.99%, Martin's property tax rates can vary significantly, impacting homeowners differently depending on their property's assessed value. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Martin Tax Bill
$1,172
Average Franklin County Tax Bill
$1,238
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Martin, Franklin County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30557 | $211 | $432 | $1,172 | $2,085 | $3,420 |
Source: Ownwell