Taxes
 

PROPERTY TAX

roperty taxes are determined by tax rates and assessment rations which vary by location. The only realistic way to compare property taxes from different locations is to use “effective tax rates” (tax rate multiplied by assessment ration). Effective tax rates combine city, county, school, and state tax rates into one convenient figure – the annual tax for each $1000 of property at its fair market value. This rate applies to all property: land, buildings, machinery, equipment, and inventory.

    Property Located Within City (2001 Effective Rate)     $5.50

    Property Located Outside City (2001 Effective Rate)   $4.50

A total of 11,032 parcels of real property existed in 2001 and with 1,688 personal property accounts for a total of 12,720.

$3,733,233 (property tax) in revenue was generated, 2001 Digest.

In 2001, 740 properties sold for a total of $77,722,050.


MILLAGE RATE

Residents pay 11.25 mils in county taxes:

    County                    7     mils

    School                     4     mils

    State                        .25 mils

    City     Hiawassee      2.5 addt'l mils

    City     Young Harris   2.98 addt'l mils

Towns County has consistently held the lowest overall millage rate in the state.


SALES TAX

City and County have 3% local sales tax in addition to 4% state sales tax.

  


STATE TAX EXEMPTIONS

State Tax Exemptions are given for:

  • Age 65 (net income less than $10,000)

  • Age 62 (gross income less than $10,000)

  • Age 65 (gross income less than $10,000)

  • Homestead ($2,000) standard exemption)

     with a State Homestead Credit of $6,000

  • Disabled veterans (100% Service Connected)

 

       
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