Millwood, Georgia Property Taxes
The median property tax rate in Millwood, GA is 0.87%, which is lower than both the national median of 0.99% and the Georgia state median of 1.08%. With a median home value of $104,828 in Millwood, the typical annual property tax bill amounts to $774, significantly under the national median of $2,690. Property taxes in Millwood are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Millwood's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Millwood or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Millwood, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$912
$846
Ownwell’s Millwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Millwood with just two simple inputs. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millwood to provide an accurate estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities with ease. For those interested in more detailed trends, localized information is available further down the page. Your property's assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Millwood, Georgia
Property taxes in Millwood, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millwood is 0.92%, which is higher than the Georgia state median of 0.83% but lower than the U.S. national median of 0.99%. Local government entities within Millwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millwood 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 Millwood's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31552 zip code has the highest median property tax rate of 0.92%, while the same zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Millwood provides valuable insights into the varying tax landscape across Ware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millwood Tax Rate
0.87%
Average Ware County Tax Rate
1.15%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31552 | 0.37% | 0.54% | 0.87% | 1.15% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Millwood, Georgia
In Millwood, 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 Ware 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 Millwood, 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 Millwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Millwood is $104,828, with the highest and lowest median tax bills both reported at $774 in zip code 31552.
Average Millwood Assessed Value
$104,828
Average Ware County Assessed Value
$82,583
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31552 | $29,167 | $49,024 | $104,828 | $187,620 | $285,263 |
Source: Ownwell
Property Tax Bills Across Millwood, Georgia
In Millwood, Ware County, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Millwood experience property tax bills that can vary significantly depending on the assessed value. For instance, the median home price in Millwood is $104,828. Property tax bills range widely, with the 25th percentile at $404, the 75th percentile at $1,347, and the 90th percentile reaching up to $2,217. Factors influencing these tax bills include the home's location within the county, any applicable exemptions, and the local tax rate. Compared to the national median property tax rate of 0.99%, Millwood's rates can be considered moderate. Homeowners need to be aware of these variations as they can significantly impact annual expenses. Understanding how these factors interplay helps homeowners better anticipate their financial obligations and manage their budgets effectively.
Average Millwood Tax Bill
$774
Average Ware County Tax Bill
$742
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Millwood, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31552 | $231 | $404 | $774 | $1,347 | $2,217 |
Source: Ownwell