Toccoa, Georgia Property Taxes
The median property tax rate in Toccoa, GA is 0.97%, slightly below the national median of 0.99% and significantly lower than the Georgia state median of 1.08%. With a median home value of $103,625 in Toccoa, the typical annual property tax bill is around $857, which is much less than the national median of $2,690. Property taxes in Toccoa are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Toccoa'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 Toccoa 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
Toccoa, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$1,005
$933
Ownwell’s Toccoa Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Toccoa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toccoa to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Toccoa, Georgia
Property taxes in Toccoa, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toccoa is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Toccoa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toccoa 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 Toccoa's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30577 zip code has the highest median property tax rate of 0.97%, while the same zip code also has the lowest median tax rate of 0.97%. Understanding how these cities compare with Toccoa 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 Toccoa Tax Rate
0.97%
Average Franklin County Tax Rate
1.03%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toccoa, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30577 | 0.44% | 0.74% | 0.97% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Toccoa, Georgia
In Toccoa, 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 Tax Assessor 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 Toccoa, 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 Toccoa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $103,625, with annual tax bills ranging from $320 at the 25th percentile to $2,619 at the 90th percentile. The highest and lowest median tax bill in Toccoa is $857 in the 30577 zip code.
Average Toccoa Assessed Value
$103,625
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 Toccoa, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30577 | $21,525 | $39,076 | $103,625 | $213,459 | $339,493 |
Source: Ownwell
Property Tax Bills Across Toccoa, Georgia
In Toccoa, Franklin County, GA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value. For instance, with a median home price of $103,625, the assessed value is used to compute the tax owed. The tax rate, or millage rate, is then applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's location, its assessed value, and any applicable exemptions. Homeowners in Toccoa might see tax bills ranging from $320 at the 25th percentile to $2,619 at the 90th percentile. Comparatively, the highest median tax bill in the area is $857, which aligns with the national median property tax rate of 0.99%. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding these factors helps homeowners anticipate their financial responsibilities.
Average Toccoa Tax Bill
$857
Average Franklin County Tax Bill
$1,238
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Toccoa, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30577 | $197 | $320 | $857 | $1,632 | $2,619 |
Source: Ownwell