Peachtree City Property Taxes (sale, houses, public schools)

[vamos]

Since I am doing research on possible areas to relocate to, I also try to understand costs, such as property taxes for any given area.

Peachtree City states that the millage rate is 5.533. They also state that in "Georgia, the assessed value of your property is actually 40% of the fair market value, so residents with a $300,000 home (fair market value) only pay taxes on 40% of that amount, the $120,000 assessed value. The assessed value is then multiplied by .005533 (or 5.533 thousandths). Peachtree City’s annual property tax on that $300,000 home is $663.96."

However, when I double check with houses listed in this price range, I find that the average reported property tax is rough $3,600 and not the $663.96 that Peachtree City would have me believe.

Any ideas why this would be? Any first-hand experiences?

[rcsteiner]

Originally Posted by vamos

Since I am doing research on possible areas to relocate to, I also try to understand costs, such as property taxes for any given area.

Peachtree City states that the millage rate is 5.533. They also state that in "Georgia, the assessed value of your property is actually 40% of the fair market value, so residents with a $300,000 home (fair market value) only pay taxes on 40% of that amount, the $120,000 assessed value. The assessed value is then multiplied by .005533 (or 5.533 thousandths). Peachtree City’s annual property tax on that $300,000 home is $663.96."

However, when I double check with houses listed in this price range, I find that the average reported property tax is rough $3,600 and not the $663.96 that Peachtree City would have me believe.

Any ideas why this would be? Any first-hand experiences?

Sounds like they're talking about the portion of the millage rate that goes to the city, but there's probably also a county millage rate as well (and that would be somewhat higher).

This thread:

//www.city-data.com/forum/atlan...t-millage.html

seems to indicate that the total millage for PTC was 34.59 in 2006.

[gapowermike]

Tricky like that aren't they???

Taxes aren't pretty in PTC...or anywhere else in the Metro area for that matter.

[L4dyQuila]

Where is the best place in Ga to move as far as crime, cost of living, schools, lower property taxes, just overall? Living in Wa state now and from Va. I LOVE Ga and am trying to get out of here ASAP. Thanks.

[klmquiroz]

The tax rate is 34.59 in Peachtree City

"The tax rate, or millage rate, in each county is set annually by the Board of County Commissioners or other governing authority of the taxing jurisdiction, and by the Board of Education. A tax rate of one mill represents a tax liability of one dollar per $1,000 of assessed value. The average county and municipal millage is 30 mills; the state millage rate in each county is 0.25 mills. Municipalities also assess property based upon county-assessed values and rates established by the municipal governing authority.

The assessed value--40 percent of the fair market value--of a house that is worth $100,000 is $40,000. The assessed value is then multiplied by the millage rate to equal the taxes due."

So, the property taxes on a home valued at $100,000 in Peachtree City would be $1,359 estimate

they have city and county taxes. I know when I was looking at home in PTC, we gave up do to the sale tax, county tax, city tax, and we didn't want to wait around to find what other taxes they had in store =)

[cwkimbro]

Actually, that is very common!! That rate isn't all that high in this region at all.

The difference is that is just the millage rate for the city! In this case Peachtree City is only getting about $600 of it. The county and its schools get the biggest part.

There are millage rates for other things that vary, as well. Most of it is the county millage and the public schools millage. The state actually has a tiny millage rate. Other millage rates can include special utility or service districts (aka extra fire or police protection or sewer access)

They can also be created on just industrial or commercial properties for specific purposes via TADs or CIDs.