Average Tax Assessment in Hancock County
Real Estate Values and Property Tax Valuation in Hancock County, Georgia
Hancock County has a total of 4,292 properties with a cumulative value of $491.6M, representing 0.06% of all real estate value in Georgia. Property taxes in Hancock County totaled $5.4M, with an average homeowner paying $1,260 in property taxes compared to the state average of $2,360. The average property tax rate in Hancock County is 1.10%, higher than the state average of 1.00%. Property taxes are based on the assessed value of the property, which is determined by the local tax assessor.
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 | |
|---|---|
| Hancock Chancery Clerk | (228) 467-5404 |
| Hancock Auditor | (419) 424-7015 |
| Hancock Clerk | (304) 564-3311 266 |
| Hancock Clerk of Court | (706) 444-6644 |
| Important Dates | |
|---|---|
| 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 Hancock County
Residential Property Taxes by Cities in Hancock County
Hancock County has an average property tax rate of 1.10%, which is slightly lower than the national average of 1.19%. This rate is applied to the assessed value of a property to calculate the amount of taxes due. The average Hancock County property tax bill is estimated to be around $1,260. The city of Sparta has the highest effective property tax rate in the county at 1.11%. This rate is slightly higher than the county average, but still lower than the national average.
Property tax rates in Hancock County vary across cities, with some cities having higher rates than others. For example, Sparta has the highest effective property tax rate in the county, while other cities such as Bay St. Louis and Waveland have lower rates. Property owners in Hancock County should research the rates in their city to ensure they are paying the correct amount of taxes.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Hancock 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 |
|---|---|---|---|---|---|
| Sparta | $18,999 | $36,742 | $67,785 | $159,405 | $262,510 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Hancock County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Sparta | $183 | $384 | $758 | $1,841 | $3,057 |
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 |
|---|---|---|---|---|---|
| Sparta | 0.96% | 1.05% | 1.12% | 1.15% | 1.16% |
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Real Estate Values in Hancock County
The data from Redfin shows that the median home price in Hancock County decreased by 22.97% from October 2022 to October 2023. This indicates that the housing market in Hancock County is cooling off, as the median home price has decreased significantly over the past year. Additionally, the home inventory in Hancock County has also increased from 28 in October 2022 to 35 in October 2023, indicating that there is more housing supply available in the area. Overall, these trends suggest that the housing market in Hancock County is becoming more affordable for potential buyers.
Average Home Value in Hancock County, Georgia
Last updated: November 2023
Percent Change in Total Home Sales in Hancock County
Last updated: November 2023
Percent Change in New Home Listings in Hancock County
Last updated: November 2023
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Mortgage Rates in Hancock County
Hancock County has a total of $89.5M in outstanding home mortgage loans. This represents 542 individual loans, with an average loan size of $165,818. The median mortgage rate in Hancock County is 3.9%, which is slightly lower than the national average of 4.1%. This rate is consistent across the county, with the city of Sparta having the highest median mortgage rate of 3.9%.
The total outstanding loan amount in Hancock County is equivalent to approximately 8.9% of the total home value in the county. This is slightly lower than the national average of 9.1%. The relatively low mortgage rate in Hancock County makes it an attractive option for potential homebuyers, as it can help to reduce the overall cost of a mortgage loan. Additionally, the consistent rate across the county ensures that borrowers in all areas of Hancock County can access the same competitive rates.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Hancock County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Sparta | $40,963 | $78,056 | $141,979 | $221,421 | $321,461 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Hancock County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Sparta | 2.90% | 3.20% | 3.90% | 4.50% | 5.88% |
Housing Expenses in Hancock County, Georgia
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