Semora, North Carolina Property Taxes
The median property tax rate in Semora, NC is 0.82%, aligning with the state median but still lower than the national median of 0.99%. With a median home value of $216,676, the typical annual property tax bill in Semora is approximately $1,382, which is below the national median of $2,690. Property taxes in Semora are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Semora's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Semora or another part of the city, grasping the local property tax intricacies will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Semora, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$1,777
Ownwell’s Semora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Semora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Semora to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Semora, North Carolina
Property taxes in Semora, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Semora is 0.82%, which is lower than the U.S. national median of 0.99%. Local government entities within Semora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Semora estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Semora's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27343 zip code has the highest median property tax rate of 0.82%, while the same zip code also has the lowest median tax rate of 0.82%. Understanding how these cities compare with Semora provides valuable insights into the varying tax landscape across Caswell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Semora Tax Rate
0.82%
Average Caswell County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Semora, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27343 | 0.55% | 0.78% | 0.82% | 0.89% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Semora, North Carolina
In Semora, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Caswell County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Semora, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For example, the highest median tax bill in Semora is $1,382 in the 27343 zip code. Being aware of these valuation processes in Semora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Semora Assessed Value
$216,676
Average Caswell County Assessed Value
$93,808
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Semora, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27343 | $51,906 | $76,389 | $216,676 | $348,955 | $503,442 |
Source: Ownwell
Property Tax Bills Across Semora, North Carolina
In Semora, located in Caswell County, NC, property tax bills are calculated based on the assessed value of the home and the local tax rate. The median home price in Semora is $216,676, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, if your home falls in the 25th percentile, you might expect a tax bill around $625, whereas homes in the 75th percentile could see tax bills up to $2,686, and those in the 90th percentile might pay as much as $3,725 annually. Compared to the national median property tax rate of 0.99%, the tax burden in Semora is relatively moderate. Understanding these factors helps homeowners anticipate their annual expenses and budget accordingly.
Average Semora Tax Bill
$1,382
Average Caswell County Tax Bill
$799
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Semora, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27343 | $390 | $625 | $1,382 | $2,686 | $3,725 |
Source: Ownwell