Nicholson, Georgia Property Taxes
The median property tax rate in Nicholson, GA is 1.22%, higher than both the national median of 0.99% and the Georgia state median of 1.08%. With a median home value of $209,848 in Nicholson, the typical annual property tax bill amounts to $2,597, slightly below the national median of $2,690. Property taxes in Nicholson are calculated based on the tax assessed value, which is usually less than the market value due to exemptions like those for primary residences and agricultural land. Understanding Nicholson'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 Nicholson or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nicholson, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$2,560
$2,376
Ownwell’s Nicholson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nicholson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nicholson 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 Nicholson, Georgia
Property taxes in Nicholson, Georgia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nicholson is 1.22%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Nicholson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nicholson 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 Nicholson's effective property tax rate to other counties in Georgia and the national median. For comparison, the 30565 zip code has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these cities compare with Nicholson provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nicholson Tax Rate
1.22%
Average Madison County Tax Rate
1.22%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nicholson, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30565 | 1.22% | 1.22% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Nicholson, Georgia
In Nicholson, 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 Madison 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 Nicholson, 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 Nicholson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 30565, with a median tax bill of $2,597.
Average Nicholson Assessed Value
$209,848
Average Madison County Assessed Value
$186,937
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nicholson, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30565 | $58,056 | $116,774 | $209,848 | $275,960 | $442,735 |
Source: Ownwell
Property Tax Bills Across Nicholson, Georgia
In Nicholson, GA, property tax bills are calculated based on the assessed value of a home, which is determined by the Madison County tax assessor. The assessed value is a percentage of the home's market value. Homeowners in Nicholson can expect their property tax bill to be influenced by several factors, including the property's assessed value, the local tax rate, and any exemptions they may qualify for. The median home price in Nicholson is $209,848. Property tax bills can vary significantly; for example, the 25th percentile tax bill is $1,512, while the 75th percentile tax bill is $3,399, and the 90th percentile tax bill reaches $5,460. These figures suggest that while some homeowners may pay relatively modest property taxes, others could face much higher bills depending on their property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, Nicholson's tax rates can result in a wide range of tax bills, impacting homeowners differently based on their individual property values and circumstances.
Average Nicholson Tax Bill
$2,597
Average Madison County Tax Bill
$2,406
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Nicholson, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30565 | $830 | $1,512 | $2,597 | $3,399 | $5,460 |
Source: Ownwell