Forsyth, Georgia Property Taxes
The median property tax rate in Forsyth, GA is 1.01%, slightly above the national median of 0.99% but below the Georgia state median of 1.08%. With the median home value in Forsyth at $122,800, the typical annual property tax bill is $828, which is significantly lower than the national median of $2,690. Property taxes in Forsyth are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Forsyth'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 Forsyth 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
Forsyth, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,240
$1,205
Ownwell’s Forsyth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forsyth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forsyth 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 Forsyth, Georgia
Property taxes in Forsyth, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forsyth is 0.94%, lower than both the Georgia state median of 0.91% and the U.S. national median of 0.99%. Local government entities within Forsyth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forsyth 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 Forsyth's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31029 zip code has the highest median property tax rate of 0.94%, while the same 31029 zip code has the lowest median tax rate of 0.94%. Understanding how these cities compare with Forsyth 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 Forsyth Tax Rate
1.01%
Average Monroe County Tax Rate
0.97%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forsyth, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31029 | 0.25% | 0.61% | 1.01% | 1.13% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Forsyth, Georgia
In Forsyth, 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 Forsyth, 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 Forsyth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Forsyth is $122,800, with the lowest median tax bill being $828 in the 31029 zip code.
Average Forsyth Assessed Value
$122,800
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 Forsyth, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31029 | $26,412 | $54,700 | $122,800 | $256,900 | $414,680 |
Source: Ownwell
Property Tax Bills Across Forsyth, Georgia
In Forsyth, Monroe County, GA, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate, known as the millage rate, is then applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and condition can influence its assessed value. For instance, the median home price in Forsyth is $122,800, and homeowners can expect tax bills to vary significantly. At the 25th percentile, tax bills are around $404, while at the 75th percentile, they can reach up to $2,029. The highest median tax bill in the area is $828, indicating a broad range of tax burdens for residents. These taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life. Compared to the national median property tax rate of 0.99%, Forsyth's tax rates can be considered moderate, offering a balanced approach to property taxation.
Average Forsyth Tax Bill
$828
Average Monroe County Tax Bill
$933
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Forsyth, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31029 | $143 | $404 | $828 | $2,029 | $3,759 |
Source: Ownwell