Patterson, Georgia Property Taxes
The median property tax rate in Patterson, GA is 1.20%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Patterson, the typical annual property tax bill reaches $1,922, which is below the national median of $2,690. Property taxes in Patterson 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 Patterson'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 Patterson 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
Patterson, Georgia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.08%
Estimate Property Tax Bill
$2,160
Ownwell’s Patterson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Patterson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Patterson 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 Patterson, Georgia
Property taxes in Patterson, Georgia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Patterson is 1.20%, notably higher than both the Georgia state median and the U.S. national median of 0.99%. Local government entities within Patterson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Patterson 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 Patterson's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 31557 has the highest median property tax rate of 1.20%, while the same zip code also has the lowest median tax rate of 1.20%. Understanding how these cities compare with Patterson provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Patterson Tax Rate
1.20%
Average Wayne County Tax Rate
1.20%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Patterson, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31557 | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Patterson, Georgia
In Patterson, 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 Wayne 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 Patterson, 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. For instance, the median home price in Patterson is $160,201, with the median tax bill at $1,922. The zip code 31557 has both the highest and lowest median tax bills at $1,922. 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 Patterson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Patterson Assessed Value
$160,201
Average Wayne County Assessed Value
$82,626
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Patterson, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31557 | $160,201 | $160,201 | $160,201 | $160,201 | $160,201 |
Source: Ownwell
Property Tax Bills Across Patterson, Georgia
In Patterson, Wayne County, GA, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. Homeowners can expect a median property tax rate of 1.20%, higher than the national median of 0.99%. For instance, with a median home price of $160,201, the property tax bill would be around $1,922, which is also the amount for the 25th, 75th, and 90th percentiles, indicating a consistent tax rate across different property values. Several factors influence the tax bill, including the property's location, assessed value, and any applicable exemptions. The assessed value is determined by the county assessor, who evaluates the property's market value and applies the assessment ratio. Homeowners in Patterson should be aware of these factors as they directly affect their annual financial obligations. High property taxes can impact the affordability of homeownership, influencing decisions on buying, selling, or investing in property within the city.
Average Patterson Tax Bill
$1,922
Average Wayne County Tax Bill
$1,204
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Patterson, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31557 | $1,922 | $1,922 | $1,922 | $1,922 | $1,922 |
Source: Ownwell