Smithville, Georgia Property Taxes
The median property tax rate in Smithville, GA is 1.25%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Smithville at $68,060, the typical annual property tax bill reaches $820, falling below the national median of $2,690. Property taxes in Smithville 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 Smithville'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 Smithville 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
Smithville, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$851
$789
Ownwell’s Smithville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smithville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithville 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 Smithville, Georgia
Property taxes in Smithville, Georgia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Smithville is 1.25%, which is significantly higher than the Georgia state median and the U.S. national median of 0.99%. Local government entities within Smithville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithville 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 Smithville's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31787 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these areas compare with Smithville provides valuable insights into the varying tax landscape across Sumter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Smithville Tax Rate
1.25%
Average Sumter County Tax Rate
1.25%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smithville, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31787 | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Smithville, Georgia
In Smithville, 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 Sumter 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 Smithville, 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 in Smithville is $68,060, with tax bills ranging from $462 at the 25th percentile to $3,712 at the 90th percentile. The highest and lowest median tax bills are both $820, found in zip code 31787. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Smithville Assessed Value
$68,060
Average Sumter County Assessed Value
$58,440
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Smithville, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31787 | $19,960 | $38,460 | $68,060 | $134,475 | $278,288 |
Source: Ownwell
Property Tax Bills Across Smithville, Georgia
In Smithville, located in Sumter County, GA, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, determined by the county assessor. Homeowners in Smithville can expect their property tax bills to vary significantly, reflecting the diversity in property values within the area. For instance, the median home price stands at $68,060. Property tax bills can range from $462 at the 25th percentile to $3,712 at the 90th percentile, illustrating the broad spectrum of property values and corresponding tax obligations. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and applicable exemptions. The median property tax rate in Smithville is notably lower than the national median of 0.99%, making it relatively affordable for homeowners. However, higher-value properties can still result in substantial tax bills, as seen by the highest median tax bill of $820 in the zip code 31787. Understanding these elements is crucial for homeowners to manage their financial planning effectively.
Average Smithville Tax Bill
$820
Average Sumter County Tax Bill
$921
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithville, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31787 | $244 | $462 | $820 | $1,674 | $3,712 |
Source: Ownwell