Iron City, Georgia Property Taxes
The median property tax rate in Iron City, GA is 1.26%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Iron City at $96,996, the typical annual property tax bill reaches $1,113, exceeding the national median of $2,690. Property taxes in Iron City 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 Iron City'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 Iron City 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
Iron City, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.26%
Estimate Property Tax Bill
$1,222
$1,134
Ownwell’s Iron City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Iron City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Iron City 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 Iron City, Georgia
Property taxes in Iron City, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Iron City is 1.26%, significantly higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Iron City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Iron City 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 Iron City's effective property tax rate to other counties in Georgia and the national median. For comparison, the 39859 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Iron City provides valuable insights into the varying tax landscape across Seminole County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Iron City Tax Rate
1.26%
Average Seminole County Tax Rate
1.28%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Iron City, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39859 | 0.63% | 1.07% | 1.26% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Iron City, Georgia
In Iron City, 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 Seminole 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 Iron City, 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 Iron City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Iron City is $96,996, with tax bills ranging from $565 at the 25th percentile to $3,117 at the 90th percentile. The highest and lowest median tax bill in the area is $1,113 in zip code 39859.
Average Iron City Assessed Value
$96,996
Average Seminole County Assessed Value
$85,332
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Iron City, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39859 | $17,407 | $48,008 | $96,996 | $172,744 | $295,654 |
Source: Ownwell
Property Tax Bills Across Iron City, Georgia
In Iron City, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. For example, if the median home price in Iron City is $96,996, the assessed value will be a fraction of this amount. The local tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Iron City can expect to see varying tax bills. For instance, tax bills at the 25th percentile are around $565, while those at the 75th percentile can reach up to $2,025. The highest tax bills, at the 90th percentile, can be as much as $3,117. Compared to the national median property tax rate of 0.99%, Iron City's tax rates can significantly impact homeowners, making it essential for them to understand how their property taxes are calculated and what they can do to manage their tax liabilities effectively.
Average Iron City Tax Bill
$1,113
Average Seminole County Tax Bill
$1,036
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Iron City, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39859 | $185 | $565 | $1,113 | $2,025 | $3,117 |
Source: Ownwell