Ty Ty, Georgia Property Taxes
The median property tax rate in Ty Ty, GA is 1.19%, higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Ty Ty at $57,563, the typical annual property tax bill reaches $536, which is lower than the national median of $2,690. Property taxes in Ty Ty 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 Ty Ty'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 Ty Ty 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
Ty Ty, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$685
$636
Ownwell’s Ty Ty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ty Ty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ty Ty 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 Ty Ty, Georgia
Property taxes in Ty Ty, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ty Ty is 1.19%, higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Ty Ty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ty Ty 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 Ty Ty's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31795 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Ty Ty provides valuable insights into the varying tax landscape across Tift County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ty Ty Tax Rate
1.19%
Average Tift County Tax Rate
1.19%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ty Ty, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31795 | 0.53% | 0.93% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Ty Ty, Georgia
In Ty Ty, 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 Tift 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 Ty Ty, 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 Ty Ty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both recorded at $536.00 in zip code 31795.
Average Ty Ty Assessed Value
$57,563
Average Tift County Assessed Value
$88,368
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ty Ty, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31795 | $10,140 | $22,655 | $57,563 | $119,964 | $194,472 |
Source: Ownwell
Property Tax Bills Across Ty Ty, Georgia
In Ty Ty, located in Tift County, GA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. For instance, with a median home price of $57,563, homeowners in Ty Ty can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $220, while those in the 75th percentile see bills closer to $1,142. For the top 10% of homeowners, tax bills can reach up to $1,950. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community. Compared to the national median property tax rate of 0.99%, Ty Ty's property taxes reflect the local economic landscape and public service needs. Homeowners must stay informed about their assessed values and tax rates to manage their financial responsibilities effectively.
Average Ty Ty Tax Bill
$536
Average Tift County Tax Bill
$893
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Ty Ty, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31795 | $96 | $220 | $536 | $1,142 | $1,950 |
Source: Ownwell