Oakfield, Georgia Property Taxes
The median property tax rate in Oakfield, GA is 1.00%, slightly higher than the national median of 0.99% but below the Georgia state median of 1.08%. With a median home value of $82,291, the typical annual property tax bill in Oakfield amounts to $823, which is significantly lower than the national median of $2,690. Property taxes in Oakfield are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Oakfield'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 Oakfield or another part of the city, mastering the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oakfield, Georgia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$823
$764
Ownwell’s Oakfield Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Oakfield with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Oakfield to estimate your property tax bill. This valuable 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 Worth County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Oakfield, Georgia
Property taxes in Oakfield, Georgia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakfield is 1.00%, higher than the U.S. national median of 0.99%. Local government entities within Oakfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakfield 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. Understanding how Oakfield's effective property tax rate compares to other counties in Georgia and the national median 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 Oakfield Tax Rate
1.00%
Average Worth County Tax Rate
1.14%
Average Georgia Tax Rate
1.08%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakfield, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31772 | 0.58% | 0.75% | 1.00% | 1.36% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Oakfield, Georgia
In Oakfield, 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 Worth 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 Oakfield, 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 Oakfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 31772 has the highest median tax bill at $823.00, while the lowest is also $823.00.
Average Oakfield Assessed Value
$82,291
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 Oakfield, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31772 | $23,763 | $41,053 | $82,291 | $150,974 | $277,321 |
Source: Ownwell
Property Tax Bills Across Oakfield, Georgia
In Oakfield, located in Worth County, GA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Oakfield is $82,291. Property taxes are then determined by applying the local tax rate to this assessed value. The tax rate in Oakfield is reflective of the services provided by the county, such as public schools, infrastructure, and emergency services. Homeowners in Oakfield can expect a range of property tax bills depending on the value of their property. For instance, the tax bill at the 25th percentile is approximately $293, while at the 75th percentile, it reaches around $1,479. At the 90th percentile, homeowners may see tax bills as high as $2,663. The highest and lowest median tax bills in Oakfield are both $823, indicating a relatively consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Oakfield's property tax rates provide a vital source of revenue for local services while remaining manageable for homeowners.
Average Oakfield Tax Bill
$823
Average Worth County Tax Bill
$864
Average Georgia Tax Bill
$2,212
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakfield, Georgia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 31772 | $264 | $293 | $823 | $1,479 | $2,663 |
Source: Ownwell