Jakin, Georgia Property Taxes
The median property tax rate in Jakin, GA is 1.15%, which is higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Jakin, the typical annual property tax bill reaches $1,662, lower than the national median of $2,690. Property taxes in Jakin 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 Jakin'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 Jakin 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
Jakin, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,631
$1,584
Ownwell’s Jakin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jakin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jakin 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 Jakin, Georgia
Property taxes in Jakin, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jakin is 1.15%, which is higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Jakin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jakin 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 Jakin's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 39861 has both the highest and lowest median property tax rate of 1.15%. Understanding how these areas compare with Jakin 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 Jakin Tax Rate
1.15%
Average Seminole County Tax Rate
1.28%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jakin, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39861 | 0.95% | 1.06% | 1.15% | 1.17% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Jakin, Georgia
In Jakin, 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 Jakin, 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. The median home price is $141,818, with tax bills ranging from $587 at the 25th percentile to $3,106 at the 90th percentile. The highest median tax bill is $1,662 in zip code 39861. Being aware of these valuation processes in Jakin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jakin Assessed Value
$141,818
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 Jakin, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39861 | $40,318 | $52,679 | $141,818 | $206,226 | $256,813 |
Source: Ownwell
Property Tax Bills Across Jakin, Georgia
In Jakin, located in Seminole County, GA, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in this area can expect their tax bills to vary significantly, influenced by factors such as property size, location, and improvements. The median home price in Jakin is $141,818, and tax bills can range widely. For example, the 25th percentile tax bill is $587, while the 75th percentile reaches up to $2,213, and the 90th percentile can be as high as $3,106. These tax bills are influenced by local tax rates and the assessed value of the property. The assessed value is determined by local tax assessors who consider various factors, including recent sales of comparable properties and any improvements made to the home. This variability in tax bills can significantly impact homeowners, potentially affecting their monthly budgets and overall financial planning. Comparatively, the national median property tax rate is 0.99%, which offers a benchmark for evaluating local tax burdens.
Average Jakin Tax Bill
$1,662
Average Seminole County Tax Bill
$1,036
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Jakin, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 39861 | $424 | $587 | $1,662 | $2,213 | $3,106 |
Source: Ownwell