How are my property taxes calculated?

The basis for ad valorem taxation is the fair market value of the property as determined by the Tax Assessor’s Office.

Formula

(Property Value x Assessment Rate) - Exemptions) x Property Tax Millage Rate = Tax Bill

Example

Here is an example calculation for a home with a market value of $100,000 in the City of Savannah:

  • The property value is the full market value appraised by the Assessors. All property in Georgia is taxed at an assessment rate of 40% of its full market value.
    • $100,000 x 40% = $40,000
  • Exemptions, such as a homestead exemption, reduce the taxable value of your property. Let's say this homeowner has a standard homestead exemption of $2,000.
    • $40,000 - $2,000 = $38,000
  • The taxable value is then multiplied by the millage rate. 1 mill = $1 tax per $1,000 taxable value. The City of Savannah’s 2019 millage rate is 12.856, which means property owners pay $12.856 per $1,000 of taxable value.
    • $38,000 x (12.856/1,000) = $488.53 final City tax bill amount* Or $38,000 x .012856=$488.53*

*Please note: locally, the School Board and Chatham County set and assess property taxes separately and in addition to the tax rate set and collected by the City of Savannah. Chatham county residents who reside within Savannah’s city limits are required to pay both County and City property taxes per Georgia law. Property owners in the County and City pay School Board taxes. School Board taxes are collected by the Chatham County Tax Commissioner.

Show All Answers

1. What is property taxation?
2. What is the difference between Real Property and Personal Property?
3. What do my property tax dollars pay for?
4. How are my property taxes calculated?
5. When are property taxes due?
6. Does the City accept or acknowledge postmarks as meeting the deadline for timely payment of property taxes?
7. Is there a penalty charge for late payment?
8. Can interest and penalty be waived if I did not receive a bill?
9. Does the City accept partial payments or set-up payment arrangements for property taxes?
10. How can I pay my property taxes to the City?
11. My mortgage company pays my tax bill; can you mail my bill to the mortgage company?
12. Who determines the value of my property?
13. How can I contact the Board of Assessors?
14. What is a millage rate?
15. What is the current City of Savannah millage rate?
16. Who sets the City of Savannah millage rate?
17. Are there any ways to lower my property tax bill because it is an owner-occupied home, or for meeting certain age, income, or disability criteria?
18. I disagree with my property’s appraised value. Are there any avenues for appeal?
19. Am I responsible for paying property taxes while my property value is under appeal?
20. What is a Fi.Fa. (tax lien)?
21. When are the tax sales?
22. What do I do if my property is sold at tax sale?