Average Tax Assessment in Banks County
Real Estate Values and Property Tax Valuation in Banks County, Georgia
Banks County has 6,067 properties with a cumulative value of $1.2B, representing 0.15% of all real estate value in Georgia. The average property tax rate in Banks County is 0.74%, which is lower than the state average of 1.00%. Property taxes in Banks County totaled $9.2M, with the average homeowner paying $1,512 in property taxes compared to the state average of $2,360. Property taxes are typically based on the assessed value of the property, which is usually lower than the market value.
The property tax timeline in Georgia begins on January 1st, when the property values are assessed. Property value notices are then issued between April and July, and property owners have 30 to 45 days after the notices are mailed to file an appeal. Finally, property tax bills are issued on September 1st.
Updated November 01, 2023
Important Links | |
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Banks Assessor | (706) 677-6223 |
Banks Clerk of Court | (706) 677-6243 |
Important Dates | |
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Property Valuation Date: | January 1st |
Property Value Notices Issued: | April - July |
Property Tax Appeal Deadline: | 30 to 45 days after notices mailed |
Property Tax Bills Issued: | September 1st |
Real Property Tax Bill Due (1st of #): | May - December, Varies by jurisdiction, Fulton County - October 15th |
Available Exemptions | |
---|---|
Senior | Available |
Disabled | Available |
Homestead | Available |
Veteran | Available |
Solar/Wind | Not Available |
Charitable | Available |
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Real Estate Statistics in Banks County
Residential Property Taxes by Cities in Banks County
Banks County has an average property tax rate of 0.74%, which is slightly lower than the state average of 0.77%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. Property taxes in Banks County are collected by the county government and used to fund public services such as schools, roads, and public safety.
Property tax rates in Banks County vary across cities, with the highest effective rate being 0.76% in Lula and the lowest being 0.72% in Alto. Property taxes in Banks County are generally lower than the state average, making it an attractive place to live for those looking to save on their tax bill.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Banks County. The tax assessment value may differ from the potential sale value, and is used to calculate the property tax for each piece of real estate.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Alto | $43,807 | $67,905 | $124,440 | $229,168 | $359,492 |
Baldwin | $62,149 | $95,659 | $155,069 | $232,913 | $352,177 |
Commerce | $47,020 | $80,067 | $167,376 | $254,888 | $372,107 |
Gillsville | $56,193 | $98,364 | $179,373 | $263,665 | $353,825 |
Homer | $60,807 | $99,943 | $180,494 | $286,764 | $437,282 |
Lula | $64,322 | $103,594 | $181,210 | $240,615 | $356,771 |
Maysville | $59,742 | $89,776 | $161,496 | $235,176 | $351,786 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Banks County.
Effective Property Tax Rate
The effective property tax rate is calculated by dividing the property tax bill by the assessed value. For the percentiles below, the calculation is performed using the percentiles for property tax bill and assessed value above. Therefore, each consecutive percentile doesn't necessarily show a larger value.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Alto | 0.51% | 0.69% | 0.72% | 0.71% | 0.71% |
Baldwin | 0.56% | 0.70% | 0.74% | 0.79% | 0.77% |
Commerce | 0.65% | 0.74% | 0.77% | 0.77% | 0.74% |
Gillsville | 0.71% | 0.69% | 0.75% | 0.75% | 0.72% |
Homer | 0.63% | 0.72% | 0.74% | 0.74% | 0.73% |
Lula | 0.64% | 0.76% | 0.78% | 0.77% | 0.72% |
Maysville | 0.67% | 0.75% | 0.78% | 0.76% | 0.73% |
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Real Estate Values in Banks County
The data from Redfin shows that the median home price in Banks County, Georgia has increased significantly from October 2022 to October 2023, with a 53.73% increase. This indicates that the housing market in Banks County is strong and that home prices are rising. Additionally, the home inventory in Banks County has decreased from 76 in October 2022 to 58 in October 2023, suggesting that demand for homes in the area is high and that homes are selling quickly.
Average Home Value in Banks County, Georgia
Last updated: November 2023
Percent Change in Total Home Sales in Banks County
Last updated: November 2023
Percent Change in New Home Listings in Banks County
Last updated: November 2023
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Mortgage Rates in Banks County
Banks County is home to a large number of outstanding home mortgage loans, totaling $209.3M. This represents a significant portion of the total home value in the county, indicating that many residents are taking advantage of the low interest rates available. The median mortgage rate in Banks County varies across cities, with Alto having the highest rate of 4.13% and Homer having the lowest rate of 3.83%. This variation in rates allows residents to find the best deal for their individual needs.
Overall, the mortgage market in Banks County is strong, with a large number of outstanding loans and a wide range of interest rates. This provides residents with the opportunity to find the best deal for their individual needs, and to take advantage of the low interest rates available. With the right mortgage, Banks County residents can make their dream of homeownership a reality.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Banks County by city.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Alto | $54,829 | $76,311 | $119,688 | $194,687 | $275,752 |
Baldwin | $58,180 | $90,703 | $138,819 | $200,835 | $269,947 |
Commerce | $55,080 | $97,120 | $149,245 | $221,843 | $284,227 |
Gillsville | $63,416 | $72,470 | $131,878 | $203,939 | $252,615 |
Homer | $70,270 | $103,608 | $159,641 | $232,186 | $323,513 |
Lula | $80,810 | $115,518 | $164,615 | $206,373 | $285,120 |
Maysville | $54,294 | $85,048 | $138,313 | $213,437 | $284,713 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Banks County.
City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
Alto | 2.91% | 3.52% | 4.13% | 4.87% | 6.17% |
Baldwin | 2.90% | 3.59% | 4.09% | 4.80% | 6.00% |
Commerce | 2.90% | 3.32% | 3.92% | 4.66% | 6.11% |
Gillsville | 2.80% | 3.24% | 3.95% | 4.42% | 5.16% |
Homer | 2.80% | 3.10% | 3.83% | 4.40% | 5.61% |
Lula | 2.90% | 3.25% | 3.87% | 4.43% | 5.58% |
Maysville | 2.90% | 3.40% | 3.96% | 4.58% | 5.70% |
Housing Expenses in Banks County, Georgia
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