Hiddenite, North Carolina Property Taxes
The median property tax rate in Hiddenite, NC is 0.62%, 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 $152,160 in Hiddenite, the typical annual property tax bill amounts to $888, which is well below the national median of $2,690. Property taxes in Hiddenite are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hiddenite's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in Hiddenite or another part of Iredell County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hiddenite, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$943
Ownwell’s Hiddenite Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hiddenite with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hiddenite 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 Hiddenite, North Carolina
Property taxes in Hiddenite, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hiddenite is 0.62%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Hiddenite set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hiddenite 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 Hiddenite's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 28636 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Hiddenite provides valuable insights into the varying tax landscape across Iredell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hiddenite Tax Rate
0.62%
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 Hiddenite, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28636 | 0.30% | 0.58% | 0.62% | 0.64% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Hiddenite, North Carolina
In Hiddenite, 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 Hiddenite, 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 Hiddenite helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 28636, with a value of $888.00, while the lowest is also 28636, with the same value.
Property Tax Assessment Values Across Hiddenite, North Carolina
Source: Ownwell
$118,825
$462,923
$807,020
Average Hiddenite Assessed Value
$152,160
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 Hiddenite, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28636 | $56,500 | $103,755 | $152,160 | $249,350 | $436,790 |
Source: Ownwell
Property Tax Bills Across Hiddenite, North Carolina
In Hiddenite, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Hiddenite is $152,160, and the property tax rate in Iredell County influences the final tax bill. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $516 and the 75th percentile at $1,353. For those in the 90th percentile, tax bills can reach up to $2,381. Factors such as the home's assessed value, any applicable exemptions, and the local tax rate play crucial roles in determining the final tax bill. Compared to the national median property tax rate of 0.99%, Hiddenite residents experience a relatively moderate tax burden. Homeowners should be aware of the assessed value of their property and any potential exemptions to understand their tax obligations better. This calculation directly impacts household budgets, making it essential for homeowners to stay informed about their property tax assessments and potential appeals.
Average Hiddenite Tax Bill
$888
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 Hiddenite, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28636 | $267 | $516 | $888 | $1,353 | $2,381 |
Source: Ownwell