Efland, North Carolina Property Taxes
The median property tax rate in Efland, NC is 0.50%, 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 Efland at $165,597, the typical annual property tax bill amounts to $831, which is well below the national median of $2,690. Property taxes in Efland are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Efland'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 Efland 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
Efland, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$828
Ownwell’s Efland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Efland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Efland 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 Alamance County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Efland, North Carolina
Property taxes in Efland, North Carolina, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Efland is 0.50%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Efland set these rates annually, and they can vary across different neighborhoods. Each year, Efland estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided 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 Efland's effective property tax rate to other areas within Alamance County and the national median. For comparison, the zip code 27243 has both the highest and lowest median property tax rate of 0.50%. Understanding how these areas compare with Efland provides valuable insights into the varying tax landscape across Alamance County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Efland Tax Rate
0.50%
Average Alamance County Tax Rate
0.49%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Efland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27243 | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Efland, North Carolina
In Efland, 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 Alamance 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 Efland, 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 Efland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 27243, with a median tax bill of $831.
Average Efland Assessed Value
$165,597
Average Alamance County Assessed Value
$246,962
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Efland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27243 | $165,597 | $165,597 | $165,597 | $165,597 | $165,597 |
Source: Ownwell
Property Tax Bills Across Efland, North Carolina
In Efland, located in Alamance County, NC, property tax bills are calculated based on the assessed value of a home. Homeowners receive a tax bill determined by multiplying the assessed property value by the local tax rate. The median home price in Efland is $165,597, with a consistent property tax bill of $831 across various percentiles, including the 25th, 75th, and 90th percentiles. This uniformity indicates a stable and predictable property tax environment for homeowners. Several factors influence the assessed value, including the property's size, location, and condition. Compared to the national median property tax rate of 0.99%, Efland's property tax rate is relatively competitive, which can be beneficial for homeowners seeking affordability. Understanding how property taxes are calculated helps homeowners plan their finances better and anticipate annual expenses. With a steady median tax bill, Efland provides a level of predictability that can be advantageous for budgeting and long-term financial planning.
Average Efland Tax Bill
$831
Average Alamance County Tax Bill
$1,218
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Efland, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27243 | $831 | $831 | $831 | $831 | $831 |
Source: Ownwell