Moncure, North Carolina Property Taxes
The median property tax rate in Moncure, NC is 0.87%, which is lower than the national median of 0.99% but slightly higher than the North Carolina state median of 0.82%. With a median home value of $228,518 in Moncure, the typical annual property tax bill amounts to $1,866, which is below the national median of $2,690. Property taxes in Moncure are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Moncure'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 Moncure or another part of Chatham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Moncure, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$1,988
Ownwell’s Moncure Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moncure with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moncure 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 Moncure, North Carolina
Property taxes in Moncure, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moncure is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Moncure set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moncure 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 Moncure's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27559 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these cities compare with Moncure provides valuable insights into the varying tax landscape across Chatham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moncure Tax Rate
0.87%
Average Chatham County Tax Rate
0.85%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moncure, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27559 | 0.60% | 0.83% | 0.87% | 0.91% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Moncure, North Carolina
In Moncure, 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 Chatham County 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 Moncure, 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. Being aware of these valuation processes in Moncure helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27559 has both the highest and lowest median tax bill at $1,866.
Average Moncure Assessed Value
$228,518
Average Chatham County Assessed Value
$323,510
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moncure, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27559 | $97,275 | $147,459 | $228,518 | $363,164 | $496,487 |
Source: Ownwell
Property Tax Bills Across Moncure, North Carolina
In Moncure, located in Chatham County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county's tax assessor and reflects the property's market value. Homeowners in Moncure can expect a median home price of $228,518, which serves as the basis for calculating their property tax. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. For instance, the tax bill for the 25th percentile is around $1,196, while it rises to $2,896 for the 75th percentile and can go up to $4,032 for the 90th percentile. This variation illustrates how different property values and exemptions can impact the overall tax burden on homeowners. Compared to the national median property tax rate of 0.99%, Moncure's tax rates reflect the local economic conditions and funding requirements for public services. Homeowners need to stay informed about their property's assessed value and any potential exemptions to manage their tax liabilities effectively.
Average Moncure Tax Bill
$1,866
Average Chatham County Tax Bill
$2,675
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Moncure, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27559 | $750 | $1,196 | $1,866 | $2,896 | $4,032 |
Source: Ownwell