Buchanan, Polk County, Georgia Property Taxes
The median property tax rate in Buchanan, GA is 0.96%, slightly below both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Buchanan being $99,326, the typical annual property tax bill amounts to $955, which is significantly lower than the national median of $2,690. Property taxes in Buchanan are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Buchanan'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 Buchanan 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
Buchanan, Polk County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$954
$885
Ownwell’s Buchanan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buchanan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buchanan 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 Buchanan, Polk County, Georgia
Property taxes in Buchanan, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buchanan is 0.96%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Buchanan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buchanan 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 Buchanan's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 30113 has the highest median property tax rate of 0.96%, while the same zip code also has the lowest median tax rate of 0.96%. Understanding how these cities compare with Buchanan provides valuable insights into the varying tax landscape across Haralson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buchanan Tax Rate
0.96%
Average Polk County Tax Rate
0.96%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buchanan, Polk County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30113 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Buchanan, Polk County, Georgia
In Buchanan, 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 Polk 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 Buchanan, 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 Buchanan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $955.00, found in zip code 30113.
Property Tax Assessment Values Across Buchanan, Polk County, Georgia
Source: Ownwell
$80,515
$127,673
$174,830
Average Buchanan Assessed Value
$99,326
Average Polk County Assessed Value
$96,778
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buchanan, Polk County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30113 | $25,634 | $48,813 | $99,326 | $147,412 | $221,605 |
Source: Ownwell
Property Tax Bills Across Buchanan, Polk County, Georgia
In Buchanan, 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 Buchanan is $99,326, and the property tax rate in Polk County contributes to the final tax bill. Homeowners in Buchanan can expect tax bills that vary significantly depending on their property's assessed value and the applicable tax rate. The 25th percentile tax bill is $469, while the 75th percentile tax bill is $1,410, indicating a wide range of property tax obligations within the city. For those at the higher end, the 90th percentile tax bill reaches $2,119. This variability can be attributed to differences in property values and any exemptions or deductions the homeowner may qualify for. Compared to the national median property tax rate of 0.99%, Buchanan's property tax bills reflect the local economic conditions and property values. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Buchanan Tax Bill
$955
Average Polk County Tax Bill
$1,041
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Buchanan, Polk County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30113 | $247 | $469 | $955 | $1,410 | $2,119 |
Source: Ownwell