Tax Commissioner: Tax Calculation

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Mathematics of Property Tax

To determine the amount of your property taxes, several values are needed. These values are the Fair Market Value (FMV), Assessed Value (ASV), and the Millage Rate. The Millage rate is determined by the proposed budget divided by the tax digest. The Millage Rate is defined as dollars per $1,000 of assessed value. The 2006 Millage Rate for Peach County has been set at $30.08 per $1,000 or the decimal equivalent of 0.03088 for the unincorporated districts. This includes the board of education's taxes. Fort Valley and Byron set their own millage rates.

  • Fair Market Value (F.M.V.) X 40%=Assessed Value
  • Assessed Value minus Exemptions X Millage Rate = Tax (If you live outside the cities of Byron and Fort Valley, add $144 for the solid waste fee to get your total tax.
  • Tax digest = Total of all Assessments
  • Millage Rate = Proposed Budget divided by Tax digest
  • Millage is expressed as dollars per $1,000 of Assessed Value

Example: In 2005, the County millage rate was set at .03088. If your property has a FMV of $100,000, the ASV would be 40 percent or $40,000. Deduct any exemptions and multiply the ASV of $40,000 by the millage rate of .03088 to get a close estimate of your property taxes. Add $144 for solid waste fee if you live in an unincorporated area. Assuming this example is for a resident with no exemptions living outside the city limits, the total tax bill would be approximately $1,379.20.

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