Georgia does not tax your home's full market value. Instead, state law sets the assessed value at 40% of fair market value, and your county, school district, and city then levy a millage rate on that assessed figure. On top of that, most owner-occupied homeowners can claim the standard $2,000 homestead exemption, which shaves a small but steady amount off every year's bill. This calculator walks through those three layers in seconds so you can budget the real monthly cost of owning a home in Georgia.
Whether you are buying in Fulton, Cobb, Gwinnett, Henry, or a rural county, the math is the same — only the millage rate changes. Slide the inputs below and watch the annual tax, monthly escrow, and effective rate update instantly.
How to Use
- Enter the Home Fair Market Value — the value your county Board of Tax Assessors has placed on the property. For a recent purchase, this is typically close to your purchase price.
- Leave the Assessment Ratio at 40% unless your county uses a different statutory percentage. Georgia law (O.C.G.A. 48-5-7) requires 40% for most residential property.
- Type the Total Millage Rate for your district. One mill equals $1 of tax for every $1,000 of assessed value. Typical combined county-plus-school rates run 25–40 mills; Fulton County unincorporated is around 30, Henry County unincorporated around 39.5.
- Set the Homestead Exemption. The state standard is $2,000 off assessed value for your primary residence. If the home is a rental or second home, set this to 0. Some counties offer additional floating or senior exemptions; enter your combined total if you know it.
- Read the result card: Assessed Value (40% of FMV), Taxable Assessed Value (after the exemption), Annual Property Tax, Monthly Property Tax (divide by 12 for your escrow), Effective Rate (tax as a share of home value), and Homestead Savings.
The effective rate is the number lenders and investors care about: it strips out the 40% assessment rule so you can compare Georgia to states that tax closer to full market value, like California or Texas.
The Georgia Property Tax Formula
Georgia uses a three-step formula written into state statute:
Assessed Value = Fair Market Value × 40% Taxable Assessed Value = max(0, Assessed Value − Homestead Exemption) Annual Tax = Taxable Assessed Value × Millage Rate ÷ 1,000
Worked example on a $300,000 home with a 30-mill rate and the $2,000 homestead exemption: assessed value is $300,000 × 0.40 = $120,000; taxable assessed value is $120,000 − $2,000 = $118,000; annual tax is $118,000 × 30 ÷ 1,000 = $3,540, or about $295 per month. Without the homestead exemption the bill would be $3,600, so the exemption saves you $60 a year.
If the home value is $0, the calculator returns $0 across the board and avoids a divide-by-zero on the effective rate. If you enter a negative home value, the tool rejects the input rather than producing a nonsense negative tax bill.
Why Georgia's Effective Rate Looks Low
Headlines often say Georgia has one of the lowest property tax rates in the country — around 0.9%–1.1% of home value. That low number is real, but it is a direct consequence of the 40% assessment rule. A home "assessed" at 40% of market value then charged 30 mills (3%) on that assessed figure works out to roughly 1.2% of the market value — exactly the effective rate the calculator reports.
Compare that to Texas, where homes are assessed near 100% of value at roughly 20 mills (2%). The millage rate in Georgia looks high, but the tax base is intentionally narrow. When you shop for homes, always compare the effective rate on fair market value, not the millage number alone.
Examples
Example 1 — A first-time buyer in Henry County. A couple buys a $300,000 home and claims the standard $2,000 homestead. The unincorporated Henry County millage rate is about 39.5. Assessed value is $120,000; taxable value is $118,000; annual tax is $118,000 × 39.5 ÷ 1,000 = $4,661, or about $388 per month added to their mortgage escrow.
Example 2 — A Buckhead condo at $1,500,000. With Fulton County's 30-mill rate and the $2,000 homestead, assessed value is $600,000 and taxable value is $598,000. The annual bill is $17,940, or $1,495 per month. The effective rate is 1.196% — higher than the state average only because the millage rate itself is near 30.
Example 3 — A rental property with no homestead. An investor buys the same $300,000 home as a rental and cannot claim the exemption. Taxable assessed value stays at $120,000 and the annual tax at a 30-mill rate is $3,600 — exactly $60 higher than the owner-occupied version. That $60 is the direct cost of not occupying the home, and it should be priced into your rent projection.
FAQ
How is Georgia property tax calculated?
Georgia assesses your home at 40% of fair market value, subtracts any homestead exemption you qualify for, then multiplies that taxable assessed value by your local millage rate divided by 1,000. On a $300,000 home at 30 mills with the $2,000 exemption, the annual tax is $3,540.
What is the 40% assessment rule?
O.C.G.A. 48-5-7 requires county tax assessors to value residential property at 40% of fair market value. This is why the "assessed value" on your Georgia tax bill looks lower than the price you paid — the state deliberately taxes only four-tenths of the market value.
How much is the Georgia homestead exemption?
The state standard homestead exemption is $2,000 off the assessed value of your primary residence. At a 30-mill rate that saves you about $60 per year. Many counties add extra floating exemptions, and seniors age 65+ may qualify for additional school exemptions based on income.
What millage rate should I use?
Millage rates vary by county and by whether you live in the city limits. Typical combined county-plus-school rates run 25–40 mills. You can find your exact rate on your county tax commissioner's website or on the most recent property tax bill; add county, school, and city millages together.
When are Georgia property taxes due?
Most Georgia counties tax property on a fiscal year running January 1 to December 31, with bills typically mailed in October and due by December 20. Many counties offer a 0.5–1% discount for paying early, and a penalty after the due date. If you have a mortgage, your lender usually pays the bill from your escrow account.
Does Georgia have a property tax cap like California's Prop 13?
No. Georgia does not cap annual assessment increases the way California's Proposition 13 does. Your county board of tax assessors can reassess your home upward when market values rise, which is why a rapid home-price increase can push your tax bill up even if the millage rate stays flat.
Are Georgia property taxes deductible?
Federal tax rules let you deduct up to $10,000 of combined state and local taxes (SALT), including property tax, on your federal Schedule A. If your Georgia property tax plus state income tax exceeds $10,000, the deduction is capped. Check with a tax preparer for your personal situation.
Disclaimer
This Georgia property tax calculator is provided for informational purposes only and does not constitute tax, legal, or financial advice. Estimates use the statutory 40% assessment ratio and a user-supplied millage rate; actual bills depend on your county board of tax assessors, local school and city millage, county-specific homestead and senior exemptions, bond levies, and assessment appeals. Always confirm your exact millage rate and exemptions with your county tax commissioner before making a purchase or refinance decision.