Lakeland, Georgia Property Taxes
The median property tax rate in Lakeland, GA is 1.21%, higher than both the national median of 0.99% and the Georgia state median of 1.08%. With a median home value of $174,102 in Lakeland, the typical annual property tax bill is $2,107, which is below the national median of $2,690. Property taxes in Lakeland are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Lakeland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lakeland or another part of the city, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakeland, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$2,107
$2,046
Ownwell’s Lakeland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lakeland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lakeland 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 Lakeland, Georgia
Property taxes in Lakeland, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakeland is 1.21%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Lakeland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakeland 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 Lakeland's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31635 zip code has the highest median property tax rate of 1.21%, while the same 31635 zip code also has the lowest median tax rate of 1.21%. Understanding how these areas compare with Lakeland provides valuable insights into the varying tax landscape across Lowndes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakeland Tax Rate
1.21%
Average Lowndes County Tax Rate
1.19%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakeland, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31635 | 0.97% | 1.12% | 1.21% | 1.26% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Lakeland, Georgia
In Lakeland, 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 Lowndes 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 Lakeland, 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 Lakeland is $174,102, with property tax bills ranging from $850 at the 25th percentile to $3,451 at the 75th percentile, and up to $3,769 at the 90th percentile. 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 Lakeland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lakeland Assessed Value
$174,102
Average Lowndes County Assessed Value
$120,229
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakeland, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31635 | $70,329 | $75,301 | $174,102 | $274,554 | $282,498 |
Source: Ownwell
Property Tax Bills Across Lakeland, Georgia
In Lakeland, Lowndes 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 Lakeland is $174,102, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, the local tax rate, and applicable exemptions can influence the final amount. For homeowners, the tax bill can vary significantly. In Lakeland, the 25th percentile tax bill is around $850, while the 75th percentile tax bill reaches $3,451. At the 90th percentile, homeowners might pay as much as $3,769 annually. These figures illustrate the range of property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Lakeland's rates can be considered relatively moderate, but they still represent a significant expense for many homeowners, impacting their overall cost of living and financial planning.
Average Lakeland Tax Bill
$2,107
Average Lowndes County Tax Bill
$1,427
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakeland, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31635 | $689 | $850 | $2,107 | $3,451 | $3,769 |
Source: Ownwell