Hamptonville, North Carolina Property Taxes
The median property tax rate in Hamptonville, NC is 0.63%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $126,080 in Hamptonville, the typical annual property tax bill amounts to $701, well below the national median of $2,690. Property taxes in Hamptonville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Hamptonville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial yearly savings. Whether you're in the heart of Hamptonville or elsewhere in Iredell County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hamptonville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$794
Ownwell’s Hamptonville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Hamptonville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate for Hamptonville to provide an accurate estimate of your property tax bill. This helps you understand your potential tax liabilities with ease. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Hamptonville, North Carolina
Property taxes in Hamptonville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hamptonville is 0.63%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Hamptonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hamptonville 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 Hamptonville's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27020 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with Hamptonville provides valuable insights into the varying tax landscape across Yadkin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hamptonville Tax Rate
0.63%
Average Iredell County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hamptonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27020 | 0.32% | 0.59% | 0.63% | 0.66% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Hamptonville, North Carolina
In Hamptonville, 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 Iredell 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 Hamptonville, 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. With a median home price of $126,080, understanding these valuation concepts can help property owners better navigate their tax responsibilities. For instance, the highest and lowest median tax bills in the area are both $701. By being aware of these processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hamptonville, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Hamptonville Assessed Value
$126,080
Average Iredell County Assessed Value
$268,560
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hamptonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27020 | $34,222 | $70,660 | $126,080 | $255,670 | $394,446 |
Source: Ownwell
Property Tax Bills Across Hamptonville, North Carolina
In Hamptonville, located in Iredell County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in this area is $126,080. Property taxes are determined by multiplying the assessed value of the property by the local tax rate, which can vary within the county. Several factors influence the tax bill, including the property's assessed value, local tax rate, and any applicable exemptions or deductions. For instance, the 25th percentile tax bill in Hamptonville is $423, while the 75th percentile tax bill is $1,309, indicating a range based on property values and tax rates. The impact on homeowners can be significant, as property taxes contribute to the overall cost of owning a home. A higher tax bill, such as the 90th percentile amount of $2,016, can affect affordability and financial planning. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens.
Average Hamptonville Tax Bill
$701
Average Iredell County Tax Bill
$2,001
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hamptonville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27020 | $242 | $423 | $701 | $1,309 | $2,016 |
Source: Ownwell