Average Tax Assessment in Towns County
Real Estate Values and Property Tax Valuation in Towns County, Georgia
Towns County has a total of 7,868 properties with a cumulative value of $2.0B. This represents 0.25% of all real estate value in Georgia. Property taxes in Towns County totaled $9.0M, with an average property tax rate of 0.45%, which is lower than the state average of 1.00%. The average homeowner in Towns County pays $1,146 in property taxes, which is significantly lower than the state average of $2,360. Property taxes are calculated based on the assessed value of the property, which is typically 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 | |
|---|---|
| Towns Assessor | (706) 896-3984 |
| Towns Clerk of Court | (706) 896-2130 |
| 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 Towns County
Residential Property Taxes by Cities in Towns County
Towns County has an average property tax rate of 0.45%, which is slightly lower than the state average of 0.47%. This rate is applied to all properties in the county, regardless of their location. However, the effective property tax rate can vary significantly across the cities in Towns County. For example, Hiawassee has the highest effective property tax rate at 0.45%, while Young Harris has the lowest effective property tax rate at 0.44%. This means that property owners in Hiawassee will pay slightly more in property taxes than those in Young Harris. Overall, Towns County has a relatively low property tax rate compared to other counties in the state, making it an attractive option for those looking to purchase property in the area.
Tax Assessment Value
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of property assessment value in each city in Towns 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 |
|---|---|---|---|---|---|
| Hiawassee | $56,287 | $116,059 | $209,380 | $333,650 | $510,915 |
| Young Harris | $54,483 | $116,674 | $198,242 | $296,188 | $419,156 |
Property Tax Bill
This table shows the percentiles of actual property tax paid on residential properties for each city in Towns County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Hiawassee | $197 | $487 | $922 | $1,509 | $2,369 |
| Young Harris | $182 | $478 | $866 | $1,294 | $1,881 |
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 |
|---|---|---|---|---|---|
| Hiawassee | 0.35% | 0.42% | 0.44% | 0.45% | 0.46% |
| Young Harris | 0.33% | 0.41% | 0.44% | 0.44% | 0.45% |
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Real Estate Values in Towns County
The data from Redfin shows that the median home price in Towns County, Georgia has increased significantly from October 2022 to October 2023, with a 148.33% increase. This indicates that the housing market in Towns County is experiencing a strong upward trend in home prices. Additionally, the home inventory in Towns County has also increased from 107 in October 2022 to 121 in October 2023, suggesting that there is an increased demand for housing in the area.
Average Home Value in Towns County, Georgia
Last updated: November 2023
Percent Change in Total Home Sales in Towns County
Last updated: November 2023
Percent Change in New Home Listings in Towns County
Last updated: November 2023
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Mortgage Rates in Towns County
Mortgages in Towns County are a major source of financing for homeowners. Currently, there is a total of $342.5M in outstanding loans across the county, with 1.8K outstanding loans. This represents a significant percentage of the total home value in the county. The median mortgage rate in Towns County varies across cities, with Hiawassee having the highest rate at 3.92%, and Young Harris having the lowest rate at 3.91%. This slight variation in rates can make a big difference in the amount of money a homeowner pays each month.
Overall, mortgages in Towns County are a great way for homeowners to finance their homes. With a total of $342.5M in outstanding loans, it is clear that this is a popular option for many people. The slight variation in rates across cities can also be beneficial for homeowners, as it allows them to find the best rate for their situation. With the right mortgage, homeowners in Towns County can be sure that they are getting the best deal possible.
Outstanding Mortgages
The table below shows the percentile distribution of outstanding loans on residential properties in Towns County by city.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Hiawassee | $61,066 | $100,163 | $158,883 | $243,874 | $355,168 |
| Young Harris | $67,897 | $102,673 | $144,323 | $224,908 | $312,517 |
Mortgage Rates
The following table shows the 10th, 25th, 50th, 75th, and 90th percentile of mortgage rates in cities across Towns County.
| City | 10th Percentile | 25th Percentile | Median | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Hiawassee | 2.88% | 3.30% | 3.92% | 4.50% | 5.96% |
| Young Harris | 2.90% | 3.22% | 3.91% | 4.55% | 6.10% |
Housing Expenses in Towns County, Georgia
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