Hamptonville, North Carolina Property Taxes
The median property tax rate in Hamptonville, NC is 0.70%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $110,690 in Hamptonville, the typical annual property tax bill is $726, significantly below the national median of $2,690. Property taxes in Hamptonville 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 Hamptonville'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 Hamptonville or another part of Wilkes County, understanding 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
0.7%
Estimate Property Tax Bill
$775
Ownwell’s Hamptonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hamptonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hamptonville 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 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 0.70%, lower than 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 counties in North Carolina and the national median. For comparison, the 27020 zip code has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Hamptonville provides valuable insights into the varying tax landscape across Wilkes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hamptonville Tax Rate
0.70%
Average Wilkes County Tax Rate
0.75%
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 | 0.57% | 0.70% | 0.70% | 0.70% | 0.70% |
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 Wilkes 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. 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 Hamptonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $726, found in the 27020 zip code.
Property Tax Assessment Values Across Hamptonville, North Carolina
Source: Ownwell
$87,490
$155,103
$222,715
Average Hamptonville Assessed Value
$110,690
Average Wilkes County Assessed Value
$107,250
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 | $52,064 | $70,035 | $110,690 | $173,315 | $227,816 |
Source: Ownwell
Property Tax Bills Across Hamptonville, North Carolina
In Hamptonville, Wilkes County, NC, property tax bills are calculated based on the assessed value of a home. The tax rate is applied to the assessed value, which is determined by the local tax assessor. For example, with a median home price of $110,690, the tax bill can vary significantly. Homeowners in the 25th percentile might pay around $478, while those in the 75th percentile could see bills as high as $1,169. The 90th percentile tax bill reaches up to $1,568. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Wilkes County offers a relatively affordable tax environment. This affordability can make Hamptonville an attractive option for prospective homeowners looking for lower property tax obligations while still enjoying the benefits of local public services.
Average Hamptonville Tax Bill
$726
Average Wilkes County Tax Bill
$770
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 | $357 | $478 | $726 | $1,169 | $1,568 |
Source: Ownwell