How to Calculate Property Taxes in DeKalb County, Georgia
Understanding how property taxes are calculated in DeKalb County, Georgia, can seem challenging, but let’s break it down into simple steps.
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Step 1: Determine Your Home’s Market Value
The market value is the amount your home would likely sell for in the current real estate market. This value is usually assessed by the DeKalb County Property Appraisal Department.
Example:
Let’s say your home in Lithonia has a market value of $337,900 as of 2024.
- Use this search tool to see current and past market values for your property.
- Tip: Only use complete words. Abbreviations and incomplete words not accepted
Step 2: Calculate the Assessed Value
In Georgia, homes are taxed based on 40% of their market value. To find the assessed value, multiply the market value by 0.40.
Formula:Assessed Value = Market Value × 0.40
Using our example:
$337,900 × 0.40 = $135,160
So, the assessed value of the home is $135,160.
A Helpful Analogy:
Think of the assessed value as being similar to taxable income when you’re calculating income taxes. Just like how you subtract deductions from your total income to figure out what part of your earnings will actually be taxed, the assessed value is the portion of your home’s market value that will actually be taxed.
Step 3: Apply Any Exemptions
Exemptions reduce the taxable value of your property. One common exemption is the Constitutional Homestead Exemption, which is available to homeowners who occupy their property as their primary residence. (There are additional exemptions that homeowners can apply for).
Formula:Taxable Assessed Value = Assessed Value - Exemption Amount
Using our example:
$135,160 – $500 = $134,660
So, the taxable assessed value is $134,660 after applying the $500 homestead exemption.
Step 4: Determine the Millage Rate
The millage rate is the amount of tax payable per $1,000 of the taxable assessed value. In DeKalb County, this rate is set annually by various taxing authorities, including the county government and the school board. Millage rates can vary, so you’ll need to check the current rate for your area. For this example, let’s use a millage rate of 40 mills (which is equal to 0.040 when expressed as a decimal).
A Helpful Analogy:
Think of the millage rate like your income tax rate. If your taxable income is $50,000 and your income tax rate is 20%, you’ll pay 20% of your taxable income in taxes. Similarly, in property taxes, the millage rate is like the “rate” of tax applied to your property’s taxable value.
- Use this search tool to see current and past market millage rates for your property.
- Tip: Only use complete words. Abbreviations and incomplete words not accepted
Step 5: Calculate the Property Tax
Finally, multiply the taxable assessed value by the millage rate to determine your property tax.
Formula:Property Tax = Taxable Assessed Value × Millage Rate
Using our example:
$134,660 × 0.040 = $5,346.40
So, the annual property tax for this home would be $5,346.40.
Summary of the Calculation Steps
- Market Value: $337,900
- Assessed Value: $337,900 × 0.40 = $135,160
- Taxable Assessed Value: $135,160 – $500 (homestead exemption) = $134,660
- Millage Rate: 40 mills = 0.040
- Property Tax: $134,660 × 0.040 = $5,346.40
By following these steps, you can estimate your property taxes in DeKalb County, Georgia. Remember, actual tax rates and exemption amounts can change, so it’s always a good idea to check the DeKalb County Tax Commissioner’s office or their official website for the most current information.