Toomsboro, Georgia Property Taxes
The median property tax rate in Toomsboro, GA is 1.31%, considerably higher than both the national median of 0.99% and the Georgia state median of 1.08%. With the median home value in Toomsboro at $50,484, the typical annual property tax bill reaches $565, which is below the national median of $2,690. Property taxes in Toomsboro 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 Toomsboro'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 Toomsboro or another part of Wilkinson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Toomsboro, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$661
$614
Ownwell’s Toomsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toomsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toomsboro 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 Toomsboro, Georgia
Property taxes in Toomsboro, Georgia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toomsboro is 0.83%, which is lower than both the Georgia state median of 0.92% and the U.S. national median of 0.99%. Local government entities within Toomsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toomsboro 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 Toomsboro's effective property tax rate to other counties in Georgia and the national median. For comparison, the 31090 zip code has the highest median property tax rate of 0.83%, while the same zip code also has the lowest median tax rate of 0.83%. Understanding how these cities compare with Toomsboro provides valuable insights into the varying tax landscape across Wilkinson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Toomsboro Tax Rate
1.31%
Average Wilkinson County Tax Rate
1.36%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toomsboro, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31090 | 0.50% | 0.84% | 1.31% | 1.46% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Toomsboro, Georgia
In Toomsboro, 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 Wilkinson 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 Toomsboro, 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 Toomsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Toomsboro is $565 in the 31090 zip code, which is also the lowest median tax bill, making it essential for property owners to stay informed and proactive.
Average Toomsboro Assessed Value
$50,484
Average Wilkinson County Assessed Value
$56,049
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Toomsboro, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31090 | $15,099 | $26,507 | $50,484 | $102,446 | $177,276 |
Source: Ownwell
Property Tax Bills Across Toomsboro, Georgia
In Toomsboro, located in Wilkinson County, GA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Homeowners in Toomsboro can expect a median property tax bill of $565, which aligns with the median tax bill for the zip code 31090. Several factors influence the final tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions. For instance, the 25th percentile of tax bills is around $265, while the 75th percentile reaches $1,155, and the 90th percentile can go up to $1,895. These variations reflect differences in property values and potential exemptions. Compared to the national median property tax rate of 0.99%, Toomsboro's property tax rates offer a relatively moderate burden to homeowners. Understanding these calculations helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Toomsboro Tax Bill
$565
Average Wilkinson County Tax Bill
$637
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Toomsboro, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31090 | $127 | $265 | $565 | $1,155 | $1,895 |
Source: Ownwell