(Property Value x Assessment Rate) - Exemptions) x Property Tax Rate = Tax Bill
Here is an example calculation for a home with a market value of $100,000 in the Unincorporated County:
The property value is the full market value appraised by the Assessors. All property in Georgia is taxed at an assessment rate of 40% of its full market value.
$100,000 x 40% = $40,000
Exemptions, such as a homestead exemption, reduce the taxable value of your property. Let’s say this homeowner has a standard homestead exemption of $2,000.
$40,000 - $2,000 = $38,000
The taxable value is then multiplied by the millage rate. 1 mill = $1 tax per $1,000 taxable value. Hall County’s total unincorporated millage rate including the county school tax rate is 27.166, which means property owners pay $27.166 per $1,000 of taxable value.
$38,000 x (27.166/1,000) = $1,032.31 your tax bill.
For a further break down of the property taxes in the above illustration please see below;
School Tax: $38,000 x (18.80/1,000) = $714.40
County Tax: $38,000 x (5.716/1,000) = $217.21
County Fire Tax: : $38,000 x (2.65/1,000) = $100.70
* 2016 Millage Rates
* It is important to note that the City of Gainesville taxes on the 100% appraised value.
* The City Schools do not give credit for the Regular Homestead Exemption.