Lakemont, Georgia Property Taxes
The median property tax rate in Lakemont, GA is 0.73%, considerably lower than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Lakemont, the typical annual property tax bill reaches $1,704, which is significantly below the national median of $2,690. Property taxes in Lakemont are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lakemont'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 Lakemont or another part of Rabun County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lakemont, Georgia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,160
Ownwell’s Lakemont Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lakemont with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lakemont to provide an accurate property tax bill estimate. This valuable tool helps you understand your potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lakemont, Georgia
Property taxes in Lakemont, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lakemont is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Lakemont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lakemont 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 Lakemont's effective property tax rate to other areas and the national median. For comparison, the zip code 30552 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these rates compare with Lakemont provides valuable insights into the varying tax landscape across Rabun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lakemont Tax Rate
0.73%
Average Rabun County Tax Rate
0.73%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lakemont, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30552 | 0.66% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Lakemont, Georgia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lakemont, Georgia. 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 Rabun 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 Lakemont, 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 Lakemont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lakemont is $1,704 in zip code 30552, while the lowest median tax bill is also $1,704 in the same zip code.
Average Lakemont Assessed Value
$223,590
Average Rabun County Assessed Value
$181,668
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lakemont, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30552 | $36,789 | $109,074 | $223,590 | $428,103 | $902,226 |
Source: Ownwell
Property Tax Bills Across Lakemont, Georgia
In Lakemont, GA, located in Rabun County, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate, or millage rate, is then applied to this assessed value to determine the annual tax bill. For homeowners in Lakemont, the median home price is $223,590. The tax bills can vary significantly, with the 25th percentile paying around $884 and the 75th percentile paying up to $3,269. At the higher end, the 90th percentile of homeowners may see tax bills as high as $6,820. The highest median tax bill in the area is $1,704, which is notably below the national median property tax rate of 0.99%. These property tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding these factors can help homeowners anticipate their annual financial obligations and plan accordingly.
Average Lakemont Tax Bill
$1,704
Average Rabun County Tax Bill
$1,337
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Lakemont, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30552 | $379 | $884 | $1,704 | $3,269 | $6,820 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | September 1 |
| Due Date #1 | September 15 |
| Due Date #2 | November 15 |
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