Wray, Georgia Property Taxes
The median property tax rate in Wray, GA is 1.17%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Wray, the typical annual property tax bill reaches $1,096, which is lower than the national median of $2,690. Property taxes in Wray are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wray'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 Wray 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
Wray, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$1,074
$997
Ownwell’s Wray Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Wray with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wray to provide an estimate of 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 Wray, Georgia
Property taxes in Wray, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wray is 1.17%, significantly higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Wray set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wray 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. Understanding how Wray's effective property tax rate compares to other counties in Georgia and the national median provides valuable insights into the varying tax landscape across Irwin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wray Tax Rate
1.17%
Average Irwin County Tax Rate
1.23%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wray, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31798 | 0.76% | 0.99% | 1.17% | 1.26% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Wray, Georgia
In Wray, 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 Irwin 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 Wray, 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 Wray helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 31798 has the highest median tax bill at $1,096, providing a useful benchmark for comparison.
Average Wray Assessed Value
$91,834
Average Irwin County Assessed Value
$67,066
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wray, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31798 | $26,764 | $51,392 | $91,834 | $167,627 | $292,277 |
Source: Ownwell
Property Tax Bills Across Wray, Georgia
In Wray, located in Irwin 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 Wray is $91,834, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property improvements, location, and local tax rates influence the final amount. Homeowners in Wray can expect their tax bills to vary significantly. The 25th percentile tax bill is around $529, while those in the 75th percentile pay about $1,804. For higher-value properties, the tax bill can reach up to $2,806 at the 90th percentile. The highest median tax bill in the area is $1,096, which is relatively modest compared to the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Wray Tax Bill
$1,096
Average Irwin County Tax Bill
$893
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Wray, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31798 | $307 | $529 | $1,096 | $1,804 | $2,806 |
Source: Ownwell