How to Estimate Your Monthly Property Tax Payment

A monthly house payment is made up of several items, but most of it is principal and interest. The other major part of the payment is property tax. But, have you ever broken down how your tax is estimated?

To estimate your monthly real estate tax payment:

  1. Multiply the total appraised value of your home by 40 percent.
  2. Deduct from this amount your homestead exemption using the following county figures:
    • $5,000 for Cherokee
    • $8,000 for Forsyth
    • $10,000 for Clayton, Cobb, DeKalb
    • $12,000 for Henry
    • * $15,000 for Fulton
    • * For Fayette and Gwinnett call the tax commissioner for exemption information.
  3. Divide the balance by 1,000.
  4. Multiply this amount by the millage rate for your city:
    • Alpharetta, 36.43
    • Atlanta, 43.86
    • College Park, 39.39
    • East Point, 41.99
    • Fairburn, 34.83
    • Hapeville, 42.44
    • Johns Creek, 34.44
    • Milton, 34.44
    • North Fulton, 34.44
    • Roswell, 34.33
    • Sandy Springs, 35.91
    • South Fulton, 34.56
    • Decatur, call 404-370-4100 for information
  5. This final figure is your estimated annual tax
  6. Divide by 12 to calculate your estimated monthly property tax

posted: Dec 27, 2009 | No Responses

Posted by:  Wakamo & Associates

Melissa Wakamo and her dynamic team of agents and support staff provide buyer and seller clients with exceptional service and proven results. Since the start of her real estate career in 2004, Melissa has proven to be a true advocate for her clients and has consistently performed in the top 1% of agents

“When I started my real estate career, I wanted to work in my local community and get to know my neighbors. Now, I realize how important that local expertise is to our clients. At Red Robin REALTORS®, all of our agents are specialists in working with buyers and sellers in Atlanta’s intown neighborhoods.”

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