Sharpsburg, North Carolina Property Taxes
The median property tax rate in Sharpsburg, NC is 1.70%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Sharpsburg, the typical annual property tax bill reaches $779, which is below the national median of $2,690. Property taxes in Sharpsburg are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sharpsburg'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 Sharpsburg 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
Sharpsburg, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$779
Ownwell’s Sharpsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sharpsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sharpsburg 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 Sharpsburg, North Carolina
Property taxes in Sharpsburg, 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 Sharpsburg is 1.70%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Sharpsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sharpsburg 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 Sharpsburg's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27878 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these areas compare with Sharpsburg provides valuable insights into the varying tax landscape across Nash County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sharpsburg Tax Rate
1.70%
Average Nash County Tax Rate
0.72%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sharpsburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27878 | 1.70% | 1.70% | 1.70% | 1.70% | 1.70% |
Source: Ownwell
Property Tax Assessment Values Across Sharpsburg, North Carolina
In Sharpsburg, 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 Nash 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 Sharpsburg, 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 median home price in Sharpsburg is $45,820, with the 25th percentile tax bill at $644 and the 75th percentile at $1,050. The highest and lowest median tax bills are both $779 in the 27878 zip code. Being aware of these valuation processes in Sharpsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sharpsburg, North Carolina
Source: Ownwell
$29,310
$100,405
$171,500
Average Sharpsburg Assessed Value
$45,820
Average Nash County Assessed Value
$102,010
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sharpsburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27878 | $29,430 | $37,868 | $45,820 | $61,655 | $84,930 |
Source: Ownwell
Property Tax Bills Across Sharpsburg, North Carolina
In Sharpsburg, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the Nash County tax assessor's office and typically reflects the market value. Homeowners in Sharpsburg can expect their property tax bill to vary depending on several factors, including the assessed value of their homes and the tax rate set by local authorities. For instance, with a median home price of $45,820, property tax bills in the 25th percentile are around $644, while those in the 75th percentile can reach $1,050. The 90th percentile sees tax bills as high as $1,445. These figures highlight the range of property tax burdens homeowners may face. Comparatively, the national median property tax rate is 0.99%, making Sharpsburg's rates competitive, especially for those looking to manage housing costs. Understanding these factors can help homeowners better anticipate their annual property tax expenses and budget accordingly.
Average Sharpsburg Tax Bill
$779
Average Nash County Tax Bill
$784
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sharpsburg, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27878 | $500 | $644 | $779 | $1,050 | $1,445 |
Source: Ownwell