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 defined as dollars per $1,000.00 of assessed value. For tax year 2017, the combined millage rate for Forsyth County has been set at 27.754 mills ($27.754 per every $1,000.00 of net assessed value).
Fair Market Value (F.M.V.) X 40% = Assessed Value
Assessed Value X Millage = Tax
Millage is expressed as dollars per $1,000.00 of Assessed Value
Example: For 2017, Forsyth County's millage rate is set at .027754. If your property has a FMV of $100,000, the ASV would be 40% or $40,000. Multiply the ASV of $40,000 by the millage rate of .027754 to determine your property taxes. In this example, your property tax bill would be $1,110.16.