Georgia Property Taxes
Editor’s Note: For purposes of this editorial post, we will discuss taxes on real property in Georgia (GA).
While federal tax rates are the same across the board, state real property taxes are another story. In addition to income state taxes, any individual who owns real property is subject to taxation.
Property tax is a type of taxation that requires owners of land and buildings to pay an amount of money based on the value of their land and buildings. In Georgia, it is the counties, municipalities, school districts, and other subdivisions in Georgia that authorize and collect the real property taxes. Georgia has the ability to include a state real property tax in those assessments but has chosen not to levy a real property state tax starting in Jan. 1, 2016.
Who Owes Georgia Property Tax?
If you own real property in Georgia, you will be required to pay GA property tax. Even if the property was inherited through an estate or you own a rental property, you still will owe real property taxes.
There is no minimum or maximum amount to pay on your property in Georgia to pay real property taxes. Whether you have a $70,000 or $7,000,000 house, you will owe real property tax in Georgia.
If your property was purchased in the middle of the real property tax year, there is a chance your realtor will work it out that you and the seller could split the cost of the local real property taxes. Your closing paperwork provides documentation if this is the case or not.
What is the GA Property Tax Rates?
The GA property tax rates vary from county to county. Here is how the tax rate is determined, according to the Georgia Department of Revenue:
“The tax rate, or millage, in each county is set annually by the board of county commissioners, or other governing authority of the taxing jurisdiction, and by the Board of Education. A tax rate of one mill represents a tax liability of one dollar per $1,000 of assessed value. The average county and municipal millage rate is 30 mills.
The State millage rate on all real and personal property has been phased out. In 2015 the State millage rate was .05. On January 1, 2016, there was no State levy for ad valorem taxation.
Municipalities also assess property taxes based upon county-assessed values and rates established by the municipal governing authority.”
You can look up the county you reside in to determine your property tax rates on the GA Department of Revenue website (PDF).
What Are Georgia Property Taxes Used For?
In general, money collected by Georgia property taxes is used for multiple local public services, like:
- Public schools
- First responders and law enforcement
- General government services
- Municipal infrastructure and land construction or improvements
- Municipal employee pay
- Resident services like garbage pickup
- Recreational services
- Protective services
How Do You Pay Your GA Property Tax?
After you purchase real property, you can set up your GA property taxes to be paid in escrow.
If you already own a property, and are not sure if you are paying them or not, you should visit your county website or contact your county government for more information.
When Do You Have to Pay GA Property Taxes?
Consult your county government to determine your GA property tax deadline.
What Can You Deduct?
The experts at H&R Block can look at your personal situation and help you decide if you’re eligible to deduct real property taxes on your federal return. And if you’d rather file your taxes yourself, know you are still backed by our 100% accuracy and maximum refund guarantees. In an office or online, don’t just get your taxes done. Get your taxes won with H&R Block.
Whether you have to file state taxes depends on a few factors. In some cases, you may not be required to file state taxes if you only lived in the state a short time or if your income is below a certain level.
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