How Much Georgia Homeowners Pay in Property Taxes

Home sales surged in the United States in the early months of the pandemic. From the first quarter of 2020 to the second, the homeownership rate in the U.S. climbed from 65.3% to 67.9% – the largest quarterly increase since record keeping began in the mid 1960s. And while owning a home offers several advantages over renting, it also comes with added expenses – not the least of which are property taxes.

Property taxes, specifically those on land and residential structures, are typically levied at the local level – by cities, counties, or school districts. State governments also often impose additional taxes on personal property such as cars or boats.

Typically used for funding public services such as schools, law enforcement, and infrastructure improvements, property taxes are the lifeblood of local communities across the United States. Nationwide, property taxes accounted for 32.2% of all state and local tax revenue in fiscal 2020, more than any other tax, including sales and income taxes. Depending on the state, property taxes account for anywhere from 16.8% to 64.0% of tax revenue. (Here is a look at the counties where families need to budget the most for taxes in every state.)

Exactly how much Americans pay each year in property taxes depends both on their local property tax rate and the value of their property. For example, if a single family home is valued at $200,000 in a given year and the local property tax rate is 1%, the property tax bill would come to $2,000.

With a median home value of $249,700 in 2021, Georgia has the 25th least expensive housing market in the country, based on data from the U.S. Census Bureau’s American Community Survey. And according to the Tax Foundation, an independent nonprofit tax policy research organization, the effective property tax rate in Georgia was 0.92% in 2021, the 25th highest among the 50 states.

Meanwhile, per capita state and local property tax collections in Georgia totaled $1,336 in fiscal 2020, compared to $1,810 across the entire country.

All tax data in this story was compiled by the Tax Foundation.

RankStateEffective property tax rate, 2021 (%)Per capita state & local prop. tax collections, FY2020 ($)Median home value, 2021 ($)
1New Jersey2.233,431389,800
2Illinois2.082,268231,500
3New Hampshire1.933,285345,200
4Vermont1.832,860271,500
5Connecticut1.793,295311,500
6Texas1.682,216237,400
7Nebraska1.632,088204,900
8Wisconsin1.611,717230,700
9Ohio1.591,458180,200
10Iowa1.521,806174,400
11Pennsylvania1.491,644222,300
12New York1.403,118368,800
13Rhode Island1.402,449348,100
14Michigan1.381,594199,100
15Kansas1.341,712183,800
16Maine1.242,862252,100
17South Dakota1.171,606219,900
18Massachusetts1.142,638480,600
19Minnesota1.111,776285,400
20Maryland1.051,744370,800
21Alaska1.042,276304,900
22Missouri1.011,114198,300
23North Dakota0.981,538224,400
24Oregon0.931,730422,700
25Georgia0.921,336249,700
26Florida0.911,541290,700
27Oklahoma0.89883168,500
28Virginia0.871,830330,600
29Washington0.871,727485,700
30Indiana0.841,146182,400
31Kentucky0.8333173,300
32North Carolina0.821,082236,900
33California0.751,955648,100
34Montana0.741,806322,800
35New Mexico0.67899214,000
36Mississippi0.671,167145,600
37Tennessee0.67845235,200
38Idaho0.671,131369,300
39Arkansas0.64798162,300
40Arizona0.631,206336,300
41Delaware0.611,049300,500
42Nevada0.591,153373,000
43Utah0.571,209421,700
44West Virginia0.571,002143,200
45South Carolina0.571,314213,500
46Louisiana0.56914192,800
47Wyoming0.562,163266,400
48Colorado0.551,956466,200
49Alabama0.40632172,800
50Hawaii0.321,556722,500

Samuel Stebbins, 24/7 Wall St. via The Center Square

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