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About County Property Taxes
Property taxes represent an important source of revenue for Gwinnett County. More than a third of the total revenue for all operating funds and nearly three-quarters of the revenues for the tax-related funds are derived from property taxes. The amount of property tax revenue is based on the value of all properties in the county, or the tax digest, and the millage rate (or tax rate).
How Property Tax Is Calculated
There are two main factors that determine the amount of property tax, one of which is property value. The average fair market value for a home in Gwinnett County was $350,000 in 2022. 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. Property taxes are based on the assessed value, which is 40 percent of the fair market value.
Each year, Gwinnett County issues Annual Notices of Assessment to each property owner in the County. An Annual Notice of Assessment is not a tax bill. The notice informs the property owner of the current fair market, or appraised, value as calculated by the Board of Tax Assessors and the appraisal staff, as well as provides the property owner the assessed value of their property.
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 each municipality also establishes tax rates based on the property values. A tax rate of one mill represents $1 of tax per $1,000 of assessed value.
Formula to calculate property tax for a home
Fair Market Value = Amount a knowledgeable buyer would pay
Assessed Value = 40% of Fair Market Value
Taxable Value = Amount to which the Millage Rate is applied
Annual Property Tax = [(40% x Fair Market Value) - Exemptions] x Millage Rate
Annual Property Tax = (Assessed Value – Exemptions) x Millage Rate
Annual Property Tax = Taxable Value x Millage Rate
Annual Notice of Assessment (Watch Video)
Gwinnett County issues Annual Notices of Assessment for residential and commercial properties, providing a written explanation of the appraised and assessed value of the property described in the notice. An Annual Notice of Assessment is not a tax bill. The notice informs the property owner of the current fair market value as calculated by the Gwinnett Board of Tax Assessors and the appraisal staff, plus the assessed of their property.
Property Tax Billing
Property taxes represent an important source of revenue for Gwinnett County. More than a third of the total revenue for all operating funds and nearly three-quarters 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. After millage rates are set in mid-summer, property tax bills are mailed in late summer with payment due in the fall.
Exemptions (Watch Video)
Exemptions — including the Homestead Exemption, the Value Offset Exemption, and many others — play a major role in your final property tax bill.
The Regular Homestead Exemption applies to all property owners who occupy the property as of January 1 of the application year and includes $10,000 off the assessed value on County taxes, $7,000 off recreation, and $4,000 off school.
The Value Offset Exemption, which is automatically applied when a Regular Homestead Exemption is granted, holds the taxable value of a property constant for the County Government tax portion of your bill, even if there is an increase in property value. The Value Offset Exemption does not apply to school or city taxes. The exemption applies to the home and up to five acres of land.
Who Do I Contact?
Annual Notices of Assessment
Tax Billing issues
County Government Millage Rates (Tax Rates)
School Millage Rates (Tax Rates)
Gwinnett County Public Schools 678.301.6000
Buford City Schools 770.945.5035
City Millage Rates (Tax Rates)
Peachtree Corners 678.691.1200
Sugar Hill 770.945.6716