Marietta Real Estate Boasts Lowest Property Taxes

brick home for sale in MariettaAs you peruse north Atlanta real estate listings searching for “the one,” keep property tax rates in mind. Property taxes can add quite a bit to the overall expense of home ownership, but not to worry. One of north Atlanta’s best residential areas also happens to have some of the lowest property taxes in the entire metro Atlanta area. That’s right, the property taxes for Marietta real estate are the lowest for any metro Atlanta city with a population higher than 10,000 residents!

Marietta Millage Rate

To understand property taxes, you need to understand millage rates. Simply put, the millage rate is a tax rate applied to the assessed value of your home (40% of the fair market value of your home), and expressed in one part per one thousand.

For instance, a millage rate of 1 equals .1 pennies. If your home has a fair market value of $250,000, the assessed value is $100,000. Marietta has a millage rate of 29.96, so 29.96 x 1/1000=.02996. Multiply that times the assessed value of $100,000, and you arrive at an annual property tax of $2,996. Compare Marietta’s millage rate to the Atlanta (DeKalb County) millage rate and it’s easy to understand why so many buyers are seeking homes for sale in Marietta!

Note as well that 63% of your property taxes go to fund schools. Cobb County residents age 62 and older may be eligible for a school tax exemption that would drastically reduce your property taxes.

Marietta Real Estate

Obviously property taxes aren’t the only criteria to consider when buying a home. Marietta also boasts fantastic schools, parks, and a vibrant schedule of community events that the whole family will love. If you have narrowed your search down to Marietta real estate, we can help you find a great home. As experienced north Atlanta Realtors, Barry Wolfert and Lisa Wrenn have a deep understanding of the local real estate market in Marietta, including historic Marietta real estate near the famed Marietta Square. Contact us today!