Fairmount, Georgia Property Taxes
The median property tax rate in Fairmount, GA is 1.15%, higher than both the national median of 0.99% and Georgia's state median of 1.08%. With a median home value of $126,095 in Fairmount, the typical annual property tax bill reaches $1,300, which is below the national median of $2,690. Property taxes in Fairmount are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fairmount'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 Fairmount or another part of Gordon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairmount, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,450
$1,408
Ownwell’s Fairmount Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairmount with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairmount 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 Fairmount, Georgia
Property taxes in Fairmount, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairmount is 0.83%, lower than both the Georgia state median of 0.92% and the U.S. national median of 0.99%. Local government entities within Fairmount set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairmount 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 Fairmount's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30139 zip code has the highest median property tax rate of 0.83%, while the same 30139 zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Fairmount provides valuable insights into the varying tax landscape across Gordon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairmount Tax Rate
1.15%
Average Gordon County Tax Rate
1.15%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairmount, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30139 | 0.94% | 1.15% | 1.15% | 1.15% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Fairmount, Georgia
In Fairmount, 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 Gordon 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 Fairmount, 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 Fairmount helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1300, found in zip code 30139.
Average Fairmount Assessed Value
$126,095
Average Gordon County Assessed Value
$149,900
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairmount, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30139 | $30,171 | $57,855 | $126,095 | $225,085 | $365,130 |
Source: Ownwell
Property Tax Bills Across Fairmount, Georgia
In Fairmount, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, with a median home price of $126,095, the assessed value is determined by the local tax assessor. Property tax rates, often expressed as millage rates, are then applied to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including the home's market value, local tax rates, and any applicable exemptions. In Fairmount, the tax bill can vary significantly. For example, the 25th percentile tax bill is $604, while the 75th percentile reaches $2,486, and the 90th percentile can be as high as $4,020. This variance reflects differences in home values and potential exemptions. Homeowners in Fairmount should be aware of these factors, as higher property taxes can impact their annual budget. Comparing these figures to the national median property tax rate of 0.99% can help homeowners understand their relative tax burden and plan accordingly.
Average Fairmount Tax Bill
$1,300
Average Gordon County Tax Bill
$1,672
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairmount, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30139 | $311 | $604 | $1,300 | $2,486 | $4,020 |
Source: Ownwell