How to Calculate Property Taxes in Florida, Georgia, North Carolina, South Carolina, Tennessee

Florida: Florida property taxes are computed on the taxable value To obtain the taxable value, determine the assessed value of the home less eligible exemptions. In Florida, if the home is a primary residence, the home owner is eligible for a $25,000 homestead exemption and possibly others. An accumulated Save Our Homes (SOH)  protected exemption may total $40,000 and the non-school taxes exemption $25,000.

For example, here is how to calculate property taxes in Florida:

$100,000 Assessed Value of the Home

- 25,000 Basic Homestead Exemption

$ 75,000 Taxable Value

x .021 Millage Rate (21 Mills per $1,000)

= $1,575 Taxes Due

For more information about property taxes in Florida: http://dor.myflorida.com/dor/property/taxpayers/

Quick Reference - 2013 Estimated Millage Tax Rates:

  • Delray Beach 12.97 mills
  • Palm Coast 12.84 mills
  • Vero Beach 7.90 mills

NOTE: Taxes are based on county taxation plus applicable city taxation.

 

Georgia: Georgia property taxes are computed on the assessed value less exemptions. The assessed value is 40% of fair market value. In Georgia, if the home is a primary residence, the home owner is eligible for a $2,000 homestead exemption deducted from the assessed value. More exemptions are available for home owners over 65, widowed and are veterans.

For example, here is how to calculate property taxes in Georgia:

$100,000 Fair Market Value of the Home

x 40%  

$ 40,000 Assessed Value

- $ 2,000 Basic Homestead Exemption

$  38,000 Taxable Value

x .025 Millage Rate (25 Mills per $1,000)

= $950 Taxes Due

For more information about property taxes in Georgia: https://etax.dor.ga.gov/PTD/adm/faq/real.aspx

Quick Reference - 2013 Estimated Millage Tax Rates:

  • Athens Georgia 33.70 Mills
  • Clayton Georgia 17.21 Mills
  • Dahlonega Georgia 27.35 Mills
  • Gainesville Georgia 29.92 Mills
  • Jasper Georgia 21.28 Mills
  • Savannah Georgia 69.78 Mills

NOTE: Taxes are based on county taxation and applicable city taxation.

 

North Carolina: North Carolina property taxes are computed on the county appraised value less eligible exemptions. In North Carolina, exemptions are available for the elderly (over 65 years old) or those disabled. The exemption is for the first $25,000 or 50% (whichever is greater) of the assessed value of the home.

For example, here is how to calculate property taxes in North Carolina:

$100,000 Appraised Value of the Home

x .0090 Millage Rate (9 Mills per $1,000)

= $900 Taxes Due

More information about property taxes in North Carolina: http://dornc.com/taxes/property/calculate.html

Quick Reference - 2013 Estimated Millage Tax Rates:

  • Asheville 10.9 Mills
  • Blowing Rock 5.93 Mills
  • Edenton 9.75 Mills
  • Hendersonville 9.23 Mills
  • Highlands 4.15 Mills
  • New Bern 8.82 Mills
  • Waynesville 94.9 Mills
  • Wilmington 5.94 Mills

Note: Taxes are based on county taxation and applicable city taxation.

 

South Carolina:  South Carolina property taxes are computed on the fair market value of the home less eligible exemptions. In South Carolina, a $20,000 homestead exemption is available to the elderly, disabled or blind.

For example, here is how to calculate property taxes in South Carolina:

$100,000 Fair Market Value of the Home

x 4% Assessment Ratio

$ 4,000 Assessed Value of the Home

x .25 Millage Rate (250 Mills per 1,000)

$1,000 Taxes Due

For more information about property taxes in South Carolina: http://www.sctax.org/Tax+Information/property/Prop+Tax+Calculated.htm

Quick Reference - 2013 Estimated Tax Millage Rates:

  • Beaufort 226.42 Mills
  • Bluffton 185.85 Mills
  • Daniel Island 240.40 Mills
  • Isle of Palms 190.40 Mills
  • Kiawah Island 190.50 Mills
  • Lady's Island 199.34 Mills
  • Seabrook Island 190.50 Mills

Note: Taxes are based on county taxation and applicable city taxation.

 

Tennessee: Tennessee property taxes are computed on assessed value. To determine the assessed value of the home in Tennessee, the appraised value is multiplied times the assessment ratio, 25% for residential property and farms, 40% for commercial property.

For example, here is how to calculate property taxes in Tennessee:

$100,000 Appraised Value of the Home

x 25%

$25,000 Assessed Value of the Home

x .03 Millage Rate (3 Mills per $100)

$750 Taxes Due

For more information about property taxes in Tennessee: http://www.comptroller.tn.gov/pa/pahtfytb.asp

Quick Reference - 2013 Estimate Tax Millage Rates:

  • Chattanooga 5.07 Mills
  • Fairfield Glade 1.97 Mills
  • Gallatin 3.01 Mills
  • Nashville 3.72 Mills
  • Loudon 1.44 Mills
  • Kingston 2.10 Mills
  • Norris Lake 3.92 Mills
  • Spencer 1.43 Mills

Note: Taxes are based on county taxation and applicable city taxation.

A sample of what property owners are saying
Coastal North Carolina
So many of us are transplants from other states. The community has deep sense of interconnectedness and has become our extended family.
Northern Georgia
At the present time, management is lacking performance in all areas. We are not getting what we pay for.
Coastal North Carolina
Wish we had been told about the rail cars dumping gravel every Tuesday night. This should be part of a noise ordinance. Please help us.
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