Elko, Georgia Property Taxes
The median property tax rate in Elko, GA is 0.97%, slightly below both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Elko at $127,800, the typical annual property tax bill amounts to $1,299, which is lower than the national median of $2,690. Property taxes in Elko are calculated based on the assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Elko'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 Elko 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
Elko, Georgia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,160
Ownwell’s Elko Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elko with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elko 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 Elko, Georgia
Property taxes in Elko, Georgia, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Elko is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Elko set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elko 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 Elko's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31025 zip code has both the highest and lowest median property tax rate of 0.97%, matching Elko's rate. Understanding how these cities compare with Elko provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elko Tax Rate
0.97%
Average Houston County Tax Rate
1.32%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elko, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31025 | 0.97% | 0.97% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Elko, Georgia
In Elko, 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 Houston 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 Elko, 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 Elko helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 31025, with a median tax bill of $1299.
Average Elko Assessed Value
$127,800
Average Houston County Assessed Value
$137,400
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elko, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31025 | $28,380 | $57,625 | $127,800 | $282,550 | $399,710 |
Source: Ownwell
Property Tax Bills Across Elko, Georgia
In Elko, Houston County, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Elko is $127,800. To determine the tax bill, the assessed value is multiplied by the local millage rate. Factors such as property improvements, location, and exemptions can influence the assessed value. For homeowners in Elko, the 25th percentile tax bill is $619, while the 75th percentile reaches up to $2,823, and the 90th percentile can be as high as $3,898. The highest median tax bill recorded in the area is $1,299, which is relatively modest compared to the national median property tax rate of 0.99%. These variations in tax bills can significantly impact homeowners' finances, making it essential to understand how property taxes are calculated and to explore potential exemptions or appeals to reduce the tax burden.
Average Elko Tax Bill
$1,299
Average Houston County Tax Bill
$1,709
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Elko, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31025 | $325 | $619 | $1,299 | $2,823 | $3,898 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | September 1 |
| Due Date #1 | September 15 |
| Due Date #2 | November 15 |
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