Albany, Worth County, Georgia Property Taxes
The median property tax rate in Albany, GA is 0.91%, which is lower than both the national median of 0.99% and the state median of 1.08%. With the median home value in Albany at $50,978, the typical annual property tax bill reaches $355, well below the national median of $2,690. Property taxes in Albany are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Albany'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 Albany 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
Albany, Worth County, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$464
$430
Ownwell’s Albany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Albany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albany 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 Albany, Worth County, Georgia
Property taxes in Albany, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Albany is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Albany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albany 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 Albany's effective property tax rate to other counties in Georgia and the national median. For comparison, the zip code 31705 has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Albany provides valuable insights into the varying tax landscape across Worth County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albany Tax Rate
0.91%
Average Worth County Tax Rate
1.14%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albany, Worth County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31705 | 0.55% | 0.66% | 0.91% | 1.15% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Albany, Worth County, Georgia
In Albany, 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 local 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 Albany, 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 Albany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Albany is $355 in the 31705 zip code, while the lowest median tax bill is also $355 in the same zip code.
Property Tax Assessment Values Across Albany, Worth County, Georgia
Source: Ownwell
$50,978
$92,423
$133,868
Average Albany Assessed Value
$50,978
Average Worth County Assessed Value
$79,652
Average Georgia Assessed Value
$231,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albany, Worth County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31705 | $16,487 | $30,600 | $50,978 | $81,036 | $125,088 |
Source: Ownwell
Property Tax Bills Across Albany, Worth County, Georgia
In Albany, GA, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, if the median home price in Albany is $50,978, the assessed value might be a fraction of this figure. The tax rate in Albany is then applied to this assessed value to determine the final tax bill. Several factors influence this calculation, including the property's location, size, and any applicable exemptions. For homeowners, this means that their annual property tax bill can vary significantly. In Albany, the 25th percentile tax bill is $264, while the 75th percentile tax bill is $885, indicating a wide range of possible tax amounts. The 90th percentile tax bill can go up to $1,461, highlighting how higher-valued properties face steeper taxes. Comparatively, Albany's property tax rates can differ from the national median property tax rate of 0.99%, affecting how much homeowners ultimately pay. Understanding these factors is crucial for homeowners to anticipate their financial obligations accurately.
Average Albany Tax Bill
$355
Average Worth County Tax Bill
$864
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Albany, Worth County, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31705 | $171 | $264 | $355 | $885 | $1,461 |
Source: Ownwell