Bolingbroke, Georgia Property Taxes
The median property tax rate in Bolingbroke, GA is 1.05%, slightly higher than the national median of 0.99% but lower than the Georgia state median of 1.08%. With the median home value in Bolingbroke at $317,650, the typical annual property tax bill reaches $3,160, surpassing the national median of $2,690. Property taxes in Bolingbroke are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Bolingbroke'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 Bolingbroke 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
Bolingbroke, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$3,335
$3,095
Ownwell’s Bolingbroke Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bolingbroke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bolingbroke 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 Bolingbroke, Georgia
Property taxes in Bolingbroke, Georgia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bolingbroke is 1.05%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Bolingbroke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bolingbroke 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 Bolingbroke's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31004 zip code has the highest median property tax rate of 1.05%, while the 31004 zip code has the lowest median tax rate of 1.05%. Understanding how these cities compare with Bolingbroke provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bolingbroke Tax Rate
1.05%
Average Monroe County Tax Rate
0.97%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bolingbroke, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31004 | 1.00% | 1.02% | 1.05% | 1.09% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Bolingbroke, Georgia
In Bolingbroke, 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 Monroe 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 Bolingbroke, 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 Bolingbroke 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 in the area is 31004, with a median tax bill of $3,160.
Average Bolingbroke Assessed Value
$317,650
Average Monroe County Assessed Value
$140,730
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bolingbroke, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31004 | $96,570 | $179,475 | $317,650 | $455,825 | $538,730 |
Source: Ownwell
Property Tax Bills Across Bolingbroke, Georgia
In Bolingbroke, Monroe County, GA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax assessor determines this assessed value, and it’s then multiplied by the local tax rate to calculate the tax bill. For instance, if the median home price is $317,650, the assessed value would be a portion of this amount. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including property location, market conditions, and any applicable exemptions. In Bolingbroke, the tax bill can vary significantly, with the 25th percentile at $1,812 and the 75th percentile reaching $4,509. Homeowners at the 90th percentile might see tax bills as high as $5,318. These taxes fund essential local services, such as schools and public safety, directly impacting the quality of life in the community. Understanding these calculations helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Bolingbroke Tax Bill
$3,160
Average Monroe County Tax Bill
$933
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Bolingbroke, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31004 | $1,002 | $1,812 | $3,160 | $4,509 | $5,318 |
Source: Ownwell