Sanford, North Carolina Property Taxes
The median property tax rate in Sanford, NC is 0.46%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Sanford at $167,335, the typical annual property tax bill amounts to $761, which is well below the national median of $2,690. Property taxes in Sanford are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sanford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sanford or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sanford, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$770
Ownwell’s Sanford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sanford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sanford 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 Sanford, North Carolina
Property taxes in Sanford, North Carolina, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sanford is 0.46%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Sanford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sanford 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 Sanford's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27330 zip code has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Sanford provides valuable insights into the varying tax landscape across Moore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sanford Tax Rate
0.46%
Average Moore County Tax Rate
0.60%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sanford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27330 | 0.45% | 0.45% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Sanford, North Carolina
In Sanford, 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 Moore 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 Sanford, 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. The median home price in Sanford is $167,335, with the 25th percentile tax bill at $358 and the 75th percentile at $1,133. Notably, the highest and lowest median tax bills in the area are both $761, found in the 27330 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sanford Assessed Value
$167,335
Average Moore County Assessed Value
$305,820
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sanford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27330 | $59,813 | $78,598 | $167,335 | $249,108 | $425,790 |
Source: Ownwell
Property Tax Bills Across Sanford, North Carolina
In Sanford, located in Moore County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Sanford can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $358, while the 75th percentile reaches $1,133, and the 90th percentile can be as high as $1,937. The median home price in Sanford is $167,335. Comparatively, the highest and lowest median tax bills in the area are both $761, as seen in zip code 27330. This indicates a relatively consistent tax rate within this zip code. The national median property tax rate is 0.99%, providing a benchmark for understanding local tax burdens. These tax bills impact homeowners by influencing their annual housing costs and can affect decisions about purchasing or maintaining property in the area.
Average Sanford Tax Bill
$761
Average Moore County Tax Bill
$1,694
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sanford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27330 | $272 | $358 | $761 | $1,133 | $1,937 |
Source: Ownwell