Midway, Georgia Property Taxes
The median property tax rate in Midway, GA is 1.54%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Midway, the typical annual property tax bill reaches $1,708, which is below the national median of $2,690. Property taxes in Midway 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 Midway'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 Midway 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
Midway, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$2,557
$2,484
Ownwell’s Midway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midway 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 Midway, Georgia
Property taxes in Midway, Georgia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Midway is 1.54%, significantly higher than the U.S. national median of 0.99%. Local government entities within Midway set these rates annually, and they can vary across different neighborhoods. Each year, Midway 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 Midway's effective property tax rate to other areas and the national median. For comparison, the 31320 zip code has both the highest and lowest median property tax rate of 1.54%. Understanding how these areas compare with Midway provides valuable insights into the varying tax landscape across Liberty County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Midway Tax Rate
1.54%
Average Liberty County Tax Rate
1.70%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midway, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31320 | 0.30% | 0.89% | 1.54% | 1.71% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Midway, Georgia
In Midway, 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 Liberty 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 Midway, 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 Midway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Midway is $1,708 in the 31320 zip code, while the lowest median tax bill is also $1,708 in the same zip code.
Average Midway Assessed Value
$166,066
Average Liberty County Assessed Value
$161,331
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Midway, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31320 | $20,798 | $45,959 | $166,066 | $257,098 | $339,827 |
Source: Ownwell
Property Tax Bills Across Midway, Georgia
In Midway, GA, located in Liberty County, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home. For example, with a median home price of $166,066, the assessed value would be calculated based on this figure. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or deductions. For homeowners in Midway, the tax bill can vary significantly. The 25th percentile tax bill is $379, while the 75th percentile reaches $3,529, and the 90th percentile can go up to $4,909. These variations highlight the impact of property value and exemptions on the total tax bill. Compared to the national median property tax rate of 0.99%, homeowners in Midway experience a range of tax bills that can significantly affect their annual financial planning.
Average Midway Tax Bill
$1,708
Average Liberty County Tax Bill
$2,200
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Midway, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31320 | $173 | $379 | $1,708 | $3,529 | $4,909 |
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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