Atlanta suburb relocation advice (Duluth, Suwanee: top school, restaurant, zip codes)

[bellhead]

Originally Posted by AnsleyPark

These numbers are not spot on. I owned a $750,000 house in south Forsyth and paid $4,500 per year. I owned a $1.5 million home in Fulton (Atlanta) and paid $26,500 per year. It's all according to where in the county you live.

No it's not, you just didn't get reassessed for several years or there were comps in your neighborhood which made your assessment lower.

For your house in Forsyth you should have paid.

$750,000 X .40 = $300,000

$300,000 x .027654 = $8296.20

https://www.forsythco.com/Department...sessed%20value).

Mathematics of Property Tax

To determine the amount of your property taxes, several values are needed. These values are the Fair Market Value (FMV), Assessed Value (ASV), and the Millage Rate. The Millage Rate is defined as dollars per $1,000.00 of assessed value. For tax year 2018, the combined millage rate for Forsyth County has been set at 27.654 mills ($27.654 per every $1,000.00 of net assessed value).

Fair Market Value (F.M.V.) X 40% = Assessed Value

Assessed Value X Millage = Tax


Millage is expressed as dollars per $1,000.00 of Assessed Value

Example: For 2018, Forsyth County's millage rate is set at 27.654 mills (decimal equivalent of .027654). If your property has a FMV of $100,000, the ASV would be $40,000 (40%). Multiply the ASV of $40,000, by the millage rate of .027654, to determine your property taxes. Using this example your property tax bill would equal $1,106.16.

[bellhead]

Originally Posted by citidata18

Forsyth County can get away with having low property taxes because, unlike Fayette County, it has an exploding population of wealthy people.

That's definitely one place that unintentionally hit the prosperity lottery just because of its geographic location.

Define wealthy? I think you mean white collar workers were the average household income is $101,743. South Forsyth has a much income than North Forsyth which is still mostly rural. The 30041 zip code i$ $129,633 which is mostly South Forsyth compare this to the Buckhead zip 30327 which is $260,100.

https://www.incomebyzipcode.com/georgia/30327

[citidata18]

Originally Posted by bellhead

I think you mean white collar workers were the average household income is $101,743.

Given that a family earning $112K in Georgia is considered upper income, and the fact that the numbers in Forsyth County have grown exponentially from $87K just 10 years ago, I would say an median income of $104K (as of the 2018 census estimates) means there's quite a lot of wealthy people living there and moving there at a brisk pace.

https://www.ajc.com/news/world/here-...20%24112%2C366.

[bellhead]

Originally Posted by citidata18

Given that a family earning $112K in Georgia is considered upper income, and the fact that the numbers in Forsyth County have grown exponentially from $87K just 10 years ago, I would say an median income of $104K (as of the 2018 census estimates) means there's quite a lot of wealthy people living there and moving there at a brisk pace.

https://www.ajc.com/news/world/here-...20%24112%2C366.

What is your notion of wealthy? $104k isn't wealthy & is just beginning to get into upper middle class. Now $260k is getting close is getting close to being wealthy.

[citidata18]

Originally Posted by bellhead

What is your notion of wealthy? $104k isn't wealthy & is just beginning to get into upper middle class. Now $260k is getting close is getting close to being wealthy.

The better question is what's *YOUR* notion of "wealthy?"

You seem to really be intrigued by the fact that I would consider a six-figure income in a low COL state like Georgia to be wealthy, and also that I would perceive a county in a low COL state like Georgia with a *MEDIAN* income of six figures as having a ton of wealthy people.

[markjames68]

Originally Posted by bellhead

What is your notion of wealthy? $104k isn't wealthy & is just beginning to get into upper middle class. Now $260k is getting close is getting close to being wealthy.

I love all these definitions. It seems to most that "wealthy" means "makes more than I do", or in some cases, "makes more than I think you should".

To be truly wealthy you need to have enough assets to live off of the income/interest without tapping the principal nor needing other sources of income.

When I lived on Long Island the MEDIAN household income was more than $104K. The median household income in Forsyth is around $96K currently. $104K would probably put you in the top 40%. Nowhere close to a 1%er which has been demonized these past years.

You could make $500K here and be a high earner, but still might not be wealthy, especially if you've only started earning that. Also, you're not wealthy if you earn that much but then are struggling when you stop earning for whatever reason.

[aslowdodge]

Originally Posted by markjames68

I love all these definitions. It seems to most that "wealthy" means "makes more than I do", or in some cases, "makes more than I think you should".

To be truly wealthy you need to have enough assets to live off of the income/interest without tapping the principal nor needing other sources of income.

When I lived on Long Island the MEDIAN household income was more than $104K. The median household income in Forsyth is around $96K currently. $104K would probably put you in the top 40%. Nowhere close to a 1%er which has been demonized these past years.

You could make $500K here and be a high earner, but still might not be wealthy, especially if you've only started earning that. Also, you're not wealthy if you earn that much but then are struggling when you stop earning for whatever reason.

I think you need to go a step further. I have enough assets to live off of as you describe but I don’t think I’m wealthy as my income is considered probably middle class.

[markjames68]

Originally Posted by aslowdodge

I think you need to go a step further. I have enough assets to live off of as you describe but I don’t think I’m wealthy as my income is considered probably middle class.

Perhaps, but if you are able to live off of your assets then you have wealth. You might not be rich though. The definitions are of course subject to interpretation.

"The simple difference between a rich person and a wealthy person is that a wealthy person has sustainable wealth. In other words, a wealthy person will always be wealthy, whereas someone who is merely rich will only be so for a short period of time until the money is gone."

https://www.streetdirectory.com/trav...r_wealthy.html

My point is that when people use income as the barometer for "wealth" they're far off the mark. If you earn $1M but spend all of it you have less wealth than someone who earns $100K but saves half.

[ShenardL]

Originally Posted by Born 2 Roll

Nothing is really wrong with Gwinnett as a whole. It is just that some people (but definitely not all) might look down on an area like Gwinnett because it has higher lower-middle class and working class populations than some other select parts of metro Atlanta's generally highly affluent northern suburban crescent.

Gwinnett has a higher population of lower-middle class and working-class people (including immigrants and minorities as a whole) than many other (but definitely not all other) parts of Atlanta's generally highly-affluent northside suburban crescent (or 'Golden Crescent').

… So some (but definitely not all) residents in other parts of Atlanta's suburban Northern Crescent potentially might look down on an area like Gwinnett, because Gwinnett's population seems to be much more working-class than some other affluent Northside enclaves like North Fulton/Forsyth, East Cobb, Dunwoody, West Cobb/North Paulding and south Cherokee.

Also, some (but definitely not all) residents in a relatively more urbanized (by Georgia standards) part of the Atlanta metro area like in the area inside, along and just outside of the I-285 Perimeter (the loop highway that goes around the central part of the Atlanta metro area like a beltway like I-695 goes around central Baltimore or like I-495 goes around central D.C.) might sometimes tend to look down upon an outlying suburban area like Gwinnett for being more of an automobile-oriented bedroom community than a more walkable and densely-developed urban core community.

Because Atlanta is a metro area with such clearly and strongly defined prideful urban and suburban identities that often compete heavily with each other, one is going to hear some derisive sniping being directed between the suburbs and the urban core every now and then.

… So do not be surprised to see and hear a few derisive comments being directed towards an area like Gwinnett from both residents in other parts of the Atlanta suburbs and from residents in the city...

… Because different parts of the Atlanta metro area and Georgia (like inside and outside of the I-285 Perimeter, the Northside and the Southside of the Atlanta metro, the Northeast Atlanta suburbs and the Northwest Atlanta suburbs, metro Atlanta and the rest of Georgia, Fulton and Cobb counties, etc.) have traditionally had some intense rivalries and competitions with each other at times.

Some of the top schools are in Gwinnett and the Gwinnett School of Mathematics, Science and Technology is one of the top-ranked in the entire nation. There might be sketchy parts in south Norcross (around Jimmy Carter) but most of the county is affluent. With a median household income of $131,944, Berkeley Lake is the most affluent town in the state of Georgia. Duluth has huge million-dollar homes in Sugarloaf Country Club (https://search.atlantadreamliving.co...g/c032/6622180) (https://search.atlantadreamliving.co...g/c032/6736531) and St. Marlo Country Club. There are huge homes in Peachtree Corners. There are huge homes in Suwanee (River Club Community, Bears Best Estates, etc.) (https://search.atlantadreamliving.co...g/c032/6697626).

[ATLForr]

Originally Posted by ShenardL

Some of the top schools are in Gwinnett and the Gwinnett School of Mathematics, Science and Technology is one of the top-ranked in the entire nation. There might be sketchy parts in south Norcross (around Jimmy Carter) but most of the county is affluent. With a median household income of $131,944, Berkeley Lake is the most affluent town in the state of Georgia. Duluth has huge million-dollar homes in Sugarloaf Country Club (https://search.atlantadreamliving.co...g/c032/6622180) (https://search.atlantadreamliving.co...g/c032/6736531) and St. Marlo Country Club. There are huge homes in Peachtree Corners. There are huge homes in Suwanee (River Club Community, Bears Best Estates, etc.) (https://search.atlantadreamliving.co...g/c032/6697626).

St Marlo is in Forsyth County.