Haw River, North Carolina Property Taxes
The median property tax rate in Haw River, NC is 0.49%, 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 Haw River, the typical annual property tax bill reaches $1,479, well below the national median of $2,690. Property taxes in Haw River are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Haw River'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 Haw River 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
Haw River, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,257
Ownwell’s Haw River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Haw River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Haw River 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 Haw River, North Carolina
Property taxes in Haw River, 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 Haw River is 0.49%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Haw River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Haw River 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 Haw River's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27258 has both the highest and lowest median property tax rate of 0.49%. Understanding how these cities compare with Haw River 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 Haw River Tax Rate
0.49%
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 Haw River, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27258 | 0.49% | 0.49% | 0.49% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Haw River, North Carolina
In Haw River, 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 Haw River, 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 zip code 27258 has the highest median tax bill at $1,479. Being aware of these valuation processes in Haw River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Haw River, North Carolina
Source: Ownwell
$100,580
$382,849
$665,118
Average Haw River Assessed Value
$256,547
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 Haw River, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27258 | $105,918 | $167,452 | $256,547 | $372,472 | $478,952 |
Source: Ownwell
Property Tax Bills Across Haw River, North Carolina
In Haw River, property tax bills are determined based on the assessed value of a home, which is derived from the market value. The tax rate is applied to this assessed value to calculate the annual tax bill. For instance, the median home price in Haw River is $256,547. Given this, homeowners can expect their tax bills to vary significantly. The tax bill at the 25th percentile stands at $1,012, while at the 75th percentile, it rises to $2,023. The 90th percentile tax bill reaches $2,528. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Haw River may find their tax burdens to be relatively moderate. These tax bills can impact homeowners by influencing their monthly mortgage payments and overall housing affordability. High property taxes can deter potential buyers, while lower taxes may attract more residents to the area. Understanding these factors is crucial for homeowners and prospective buyers when making real estate decisions in Haw River.
Average Haw River Tax Bill
$1,479
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 Haw River, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27258 | $650 | $1,012 | $1,479 | $2,023 | $2,528 |
Source: Ownwell