Montrose, Georgia Property Taxes
The median property tax rate in Montrose, GA is 0.90%, slightly lower than the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Montrose at $64,993, the typical annual property tax bill is $578, which is well below the national median of $2,690. Property taxes in Montrose 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 Montrose'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 Montrose 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
Montrose, 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 Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, Georgia
Property taxes in Montrose, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montrose is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 31065 has both the highest and the lowest median property tax rate of 0.90%, which is the same as Montrose's median tax rate. Understanding how these cities compare with Montrose provides valuable insights into the varying tax landscape across Laurens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montrose Tax Rate
0.90%
Average Laurens County Tax Rate
0.90%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montrose, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31065 | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, Georgia
In Montrose, 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 local 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 Montrose, 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. The median home price in Montrose is $64,993, with the 25th percentile tax bill at $311 and the 75th percentile tax bill at $1,181. The highest median tax bill in Montrose is found in the 31065 zip code, amounting to $578. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montrose Assessed Value
$64,993
Average Laurens County Assessed Value
$75,596
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montrose, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31065 | $18,366 | $33,934 | $64,993 | $132,853 | $252,614 |
Source: Ownwell
Property Tax Bills Across Montrose, Georgia
Property tax bills in Montrose, GA, are calculated based on the assessed value of a property, which is typically a percentage of its market value. In Laurens County, where Montrose is located, the assessed value is derived from the median home price of $64,993. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the tax bill, including property location, improvements, and exemptions. For instance, a property in Montrose's zip code 31065 has a median tax bill of $578. Homeowners in the 25th percentile can expect to pay around $311, while those in the 75th percentile might see bills as high as $1,181. At the 90th percentile, tax bills can reach up to $2,248. Understanding these factors is crucial for homeowners as it directly affects their financial planning. Compared to the national median property tax rate of 0.99%, Montrose's tax rates can be a significant consideration for current and prospective homeowners.
Average Montrose Tax Bill
$578
Average Laurens County Tax Bill
$799
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31065 | $172 | $311 | $578 | $1,181 | $2,248 |
Source: Ownwell