Board sets 2020 millage rates
The Gwinnett County Board of Commissioners on Tuesday adopted 2020 millage rates to fund county services. The rate for Maintenance and Operations for the General Fund was lowered to 6.95 mills, down from 7.209 mills in 2019. Required notices for the millage rate adoption were published in the county’s legal organ Sunday, August 9.
Financial Services Director Buffy Alexzulian reported that the value of net taxable property in Gwinnett increased about 6.5 percent from the 2019 value. “We have been fortunate to see steady growth in the tax digest in recent years, allowing the Board to roll back the General Fund millage rate when they can,” says Alexzulian.
Property taxes are based on millage rates set by county government, the schools, and cities. One mill equals a dollar tax per thousand dollars of assessed property value.
The Gwinnett County Tax Assessor calculates the total value of all property in the county, called the tax digest, by conducting annual updates of residential and commercial property. Gwinnett property owners have been notified of this year’s assessed values.
The Board also set the rates for Recreation, Police, Fire & EMS, Development and Enforcement, and Economic Development. The 2020 total of all county property tax millage rates for property owners in unincorporated Gwinnett County will be 14.71 mills. This total does not include millage rates for schools or for cities. Millage rates for service districts like Police and Fire & EMS, are based on property location and county services provided. Details on millage rates are available online at www.gwinnettcounty.com.
Tuesday’s action paved the way for the Tax Commissioner’s Office to mail property tax bills later this year. Property owners or mortgage lenders can make payments by mail, online, by phone, at the main tax office in person, or by using one of the special drop boxes located at tax and tag offices.
2020 tax digest and 5-year history
The following tables show the current year's estimated tax digest along with the history of the tax digest and levy for the past five years:
Click here to view a printable version.
Property taxes represent an important source of revenue for Gwinnett County. More than one-third (34.1 percent) of the total revenue for all operating funds and nearly three-quarters (71.5 percent) of the revenues for the tax-related funds are derived from property taxes. The amount of property tax revenue is based on the size of the tax digest and the millage rate.
The tax digest is the total value of all property subject to taxation as determined by the Tax Assessor. Property in Georgia is assessed at 40 percent of the fair market value, unless otherwise specified by law. The economy, as well as state and local policies, impact the size of the net digest.
Gwinnett enjoyed a growing digest for many years. As a result, county government was able to roll back the millage rate, provide property tax relief, and still have increasing revenues to meet community needs. The digest condition looked good as it had continued to show increases year after year. But by 2008, this year-over-year digest growth slowed down, and by 2009, the digest had lost value. This loss in value was the result of housing and economic conditions (namely, increased foreclosures, decreased construction, and the freeze in assessments). The last year of tax digest decline was 2013; since that time, the digest has shown a modest recovery as home prices are beginning to recover and construction is increasing.
The amount of property tax revenue is also based on the tax rate (or millage rate), which is set annually by the Board of Commissioners. The Board of Education and the governing authority of municipalities also establish tax rates based on the property values. A tax rate of one mill represents a tax liability of $1 per $1,000 of assessed value. These rates are the amount required to fund planned expenditures divided by the net digest.
How property tax is calculated
The average fair market value for a home in Gwinnett County was $200,000 in 2017. Fair market value is the amount a knowledgeable buyer would pay for the property and a willing seller would accept for the property at an arm’s length, bona fide sale. Assessed value is 40 percent of the fair market value.
Formula to calculate property tax for a home with a fair market value of $200,000:
Annual Property Tax = [(40% x Fair Market Value) - Exemptions] x Millage Rate
Annual Property Tax = [(.40 x $200,000 ) - Exemptions] x Millage Rate
Annual Property Tax = $80,000 - Exemptions x Millage Rate
For more information
For information on commercial and residential property appeals, returns, and unclaimed property, select the links below to the Tax Assessor's Office.
Property owners can search for view parcel information using the County’s GIS data browser.