With population growth that equals that of communities in Texas, Atlanta is an exciting place to live. According to the Atlanta Regional Commission, the area will be home to more than 8 million people by 2050. Atlanta has a rich history and culture, in addition to being one of the fastest-growing cities in the country. Compared to New York City, Austin, or San Diego, it’s a lot less expensive.
Our guide on Atlanta property taxes will help you make the most of Atlanta’s attractive property investment opportunities.
Taxes on property in Atlanta
What Atlanta’s property taxes are like compared to other states? Compared to other states, Georgia has lower average property taxes than Texas and New York, according to the Census Bureau. It is also less expensive than in Dallas, Chicago, and Minneapolis to own a home in the city of Atlanta.
Property taxes in Georgia are calculated based on millage rates. A 40% market value assessment is applied to all properties across the state, regardless of location. However, the millage rate is decided by each county, and you may see it on the webpage for that county.
There are 29 counties in the Atlanta metro area to consider when investing in real estate. Fulton County is home to most of Atlanta, though parts of the city lie within DeKalb County.
Georgia levies an intangible recording tax in addition to regular property taxes. Within 90 days of acquiring a long-term note, any lender must pay this tax.
Filing Property Taxes
The county tax collector or commissioner in the same district as the property investment is responsible for collecting and distributing property taxes. ‘ It’s best to file in the county where most of the property is located if it falls under multiple jurisdictions.
Between January 1 and April 1, all property taxes in Georgia must be paid. Otherwise, payments must be made no later than December 20 unless the county states.
Two installment payment deadlines have been established by DeKalb County: September 30 and November 15. By the 30th of September, you can also make a single lump-sum payment.
In Fulton County, taxes are not prorated, so even if you didn’t own the rental property for the entire year, you still have to pay the total amount. Property taxes are your responsibility, even if your mortgage company covers them.
View and Pay Property Taxes
Tax bills are sent by regular mail from Fulton and DeKalb and must be paid within 60 days of the postmark. After 60 days, interest and penalties begin to accrue on the account.
Georgia’s Department of Revenue provides an electronic service for searching property records and depositing property taxes. Online payment is available in Fulton and DeKalb counties, but not in every county.
DeKalb limits online payments to five properties at a time, even though the online service allows for unlimited amounts. In both counties, you can make a payment over the phone or by mail.
Don’t let Atlanta get away from you!
Summers in Atlanta are pleasant, and the winters are mild. Its urban culture is characterized by a wide range of distinctive forms of visual and aural expression. Foodies and nature buffs will have plenty of options to choose from. History aficionados never get tired.
In comparison to other large metro regions, Atlanta’s property taxes and additional costs of living are among the lowest in the country. There are so many excellent property investment options in Atlanta right now, so don’t miss out!
We have years of combined property management knowledge when you work with Tameka Manns Realty Group. If you’re ready to invest and are looking for trustworthy and reputable Atlanta property managers, contact us for a free consultation.