Property taxes pay for the majority of important services that help improve the quality of life we enjoy in our communities.
From local law enforcement and fire protection, to the construction and maintenance of public structures, property taxes keep our local communities running.
Your local tax assessor’s office determines your tax bill by looking into your property’s assessed value, the present assessment rate, and any tax exemptions or abatements that you applied and qualified for.
Calculating your property tax
The Forsyth County Tax Assessor’s Office is responsible for determining a resident’s tax bill. Your property tax is calculated using three main values: Fair Market Value (FMV), Assessed Value (ASV), and the Millage Rate.
- The Market Value or Fair Market Value refers to how much a property would sell in a competitive open market. The FMV is periodically recalculated by the local government – in this case, the Forsyth County Tax Assessor’s Office.
- The Assessed Value is what authorities use to determine the amount of real estate tax a resident has to pay. It represents 40% of a property’s assessed value.
- The Millage Rate or Mill Rate is equal to $1 in tax per $1,000 of the tax assessed value. It is computed from various services and abatements such as the fire district, school bonds, state and county taxes, and more.
To calculate property tax, multiply the assessed value by the millage rate.
- Let’s say the current millage rate in Forsyth County is 26.474.
- If your property has an FMV of $100,000, the ASV would be equal to 40% of that or $40,000.
- By multiplying your property’s ASV of $40,000 to the millage rate of 26.474 your property tax bill would be: $2,647.40
Homestead exemptions in Forsyth County
Exemptions that lower a property’s tax bill are available in Forsyth County. These are called Homestead Exceptions and they work by reducing a property’s assessed value, which is what property taxes are based on.
Here’s a list of homestead exemptions residents can apply for in Forsyth County.
- Regular – $8,000 Homestead
- Floating homestead
- Total school tax
- Other school tax
- Double homestead
- Disability homestead
- Disabled veterans
- Surviving spouse homestead
- Residents must own the property, reside on said property, and be a legal resident of Forsyth County to qualify for a homestead exemption.
- The property must be in the name of the applicant. All exemptions are renewed automatically each year even after refinancing – unless there is a change in ownership or the owner fails to meet eligibility requirements.
- If the previous owner dies or is divorced, the new owner must inform the Tax Assessors Office of the change and reapply for any of the previously granted exemptions.
- Residents and their spouses who own more than one home, even if one is in the other’s name, cannot claim multiple exemptions.
Follow this link for more information about the qualifications and amount of tax reduction of each homestead exemption in Forsyth County, Georgia.
Paying property taxes online
The Forsyth County Tax Commissioner lets residents view and pay their taxes online through the official Forsyth County website. Residents can easily request to see their bills online by providing one of the following:
- Billing Address
- Map/Parcel ID
- Property Address
- Taxpayer Name
For information about the local real estate offerings in Forsyth County, get in touch with me today at CCourville@CCourville.com or 678-618-0382.