Georgia Property Taxes — Home Value Appraisals — Make Professional Floor, Building & Landscaping Plans — Cheap Mortgage Refinance Rates
Home Value Appraisals, Property Tax Appeals
Georgia Property Taxes, Home Property Valuation Georgia Property Tax Appeal and House Appraisal tutorial for home value appraisals and how to establish the market value of residential property and pursue a winning property tax appeal. Other books offer lot's of advice but not easy to follow actual examples for all valuation categories. Nothing comes close to this how to manual. Go to your local book shop or Barnes & Noble.com Bestsellers and see if you can find one. We're betting you can't.
General Tax Information
• The ad valorem tax, more commonly called property tax, is the primary source of revenue for local governments in Georgia. Ad valorem means "according to value".
• The Tax Commissioner is responsible for collecting taxes based on the millage rate times the assessed value of the property. The millage rate is a determining factor in the calculation of taxes.( A mill is $1 per $1000 of assessed value.) The state authorities set the millage rate for state taxes, the county Board of Commissioners sets the millage rate for county taxes, the county Board of Education sets the millage rate for county school taxes and the city authorities set the millage rate for city taxes.
• The County Board of Tax Assessors, which is appointed by the County Board of Commissioners, assesses all property for tax purposes. Assessments are by law based on 40% of the fair market value as of January 1 each year. If the fair market value of the property increases, the assessed value must also be increased. By law, you must be notified by the Board of Assessors if the assessed value of your property changed. You have forty-five (45) days from the date of the NOTICE of Reassessment to file an appeal with the Board of Tax Assessors.
Each county administers its own system and sets its millage rate to obtain the amount of ad valorem tax due.
• The Homeowner Tax Relief Credit provides homeowners with property tax relief on their county, school, and state property taxes. In 2005 this credit will give eligible homeowners property tax relief that is equivalent to an additional $8,000 homestead exemption. For more information click here.
Home Property Valuation Exemptions: click here.
• Property Exempt From Taxation
• Homestead Exemption
• Freeport Exemption
• Other Personal Property Exemptions
• Property Tax Deferrals
Personal income tax
• Georgia personal income tax ranges from 1 percent to 6 percent in 6 brackets.
Sales tax
• Georgia state sales tax is 4 percent with local jurisdictions imposing up to 3% additional sales taxes. Prescription drugs, certain medical devices and groceries are exempt.
• The top five states where the tax burden as a percent of income is the highest are: Maine (13.0%), New York (12.0%), Hawaii (11.5%), Rhode Island (11.5%), and Wisconsin (11.4%). The United States average is 10.1%. The District of Columbia is 12.2%.
• The five states with the lowest tax burden as a percent of income are: Alaska (6.4%) 50th, New Hampshire (7.4%) 49th, Delaware (8.0%) 48th, Tennessee (8.3%) 47th, and Alabama (8.7%) 46th. See effective state tax burden table
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