Milan, Georgia Property Taxes
The median property tax rate in Milan, GA is 1.06%, slightly higher than the national median of 0.99% but just below the Georgia state median of 1.08%. With a median home value of $69,214 in Milan, the typical annual property tax bill amounts to $763, which is significantly lower than the national median of $2,690. Property taxes in Milan are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Milan'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 Milan or another part of Telfair County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Milan, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.06%
Estimate Property Tax Bill
$734
$681
Ownwell’s Milan Property Tax Bill Calculator provides homeowners, real estate investors, and potential buyers with an easy way to estimate their annual property taxes in Milan using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milan to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by Telfair County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Milan, Georgia
Property taxes in Milan, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milan is 1.06%, higher than the U.S. national median of 0.99%. Local government entities within Milan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milan 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 Milan's effective property tax rate to other areas in Georgia and the national median. For comparison, the zip code 31060 has both the highest and lowest median property tax rate of 1.06%. Understanding how these cities compare with Milan provides valuable insights into the varying tax landscape across Telfair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milan Tax Rate
1.06%
Average Telfair County Tax Rate
1.07%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milan, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31060 | 0.60% | 0.75% | 1.06% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Milan, Georgia
In Milan, 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 Telfair 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 Milan, 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 Milan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 31060 has the highest and lowest median tax bill at $763.
Average Milan Assessed Value
$69,214
Average Telfair County Assessed Value
$41,812
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milan, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31060 | $10,766 | $24,265 | $69,214 | $172,118 | $344,594 |
Source: Ownwell
Property Tax Bills Across Milan, Georgia
In Milan, GA, property tax bills are calculated based on the assessed value of a home, which is determined by the Telfair County tax assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Milan, the median home price is $69,214, and property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $216, while at the 75th percentile, it reaches $1,690, and at the 90th percentile, it can go up to $3,364. These variations in tax bills can impact homeowners differently, with higher-valued properties incurring higher taxes. The highest median tax bill in the area is $763, found in the 31060 zip code. Compared to the national median property tax rate of 0.99%, Milan's property tax rates and resulting bills can be more or less burdensome depending on the specific assessed values and applicable exemptions.
Average Milan Tax Bill
$763
Average Telfair County Tax Bill
$435
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Milan, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31060 | $69 | $216 | $763 | $1,690 | $3,364 |
Source: Ownwell