Merry Hill, North Carolina Property Taxes
The median property tax rate in Merry Hill, NC is 0.90%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Merry Hill at $75,441, the typical annual property tax bill reaches $639, which is substantially below the national median of $2,690. Property taxes in Merry Hill 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 Merry Hill'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 Merry Hill or another part of Bertie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Merry Hill, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$679
Ownwell’s Merry Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merry Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merry Hill 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 Merry Hill, North Carolina
Property taxes in Merry Hill, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merry Hill is 0.90%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Merry Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merry Hill 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 Merry Hill's effective property tax rate to other areas in Bertie County and the national median. For comparison, the zip code 27957 has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with Merry Hill provides valuable insights into the varying tax landscape across Bertie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Merry Hill Tax Rate
0.90%
Average Bertie County Tax Rate
0.90%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Merry Hill, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27957 | 0.65% | 0.87% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Merry Hill, North Carolina
In Merry Hill, 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 Bertie 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 Merry Hill, 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 Merry Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $639 in the 27957 zip code, while the lowest median tax bill is also $639 in the same zip code.
Property Tax Assessment Values Across Merry Hill, North Carolina
Source: Ownwell
$39,976
$71,782
$103,588
Average Merry Hill Assessed Value
$75,441
Average Bertie County Assessed Value
$56,495
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Merry Hill, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27957 | $19,099 | $40,736 | $75,441 | $170,626 | $387,533 |
Source: Ownwell
Property Tax Bills Across Merry Hill, North Carolina
In Merry Hill, Bertie County, NC, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined based on the market value of the property, and the local tax rate is set by the county. For example, with a median home price of $75,441, homeowners in Merry Hill can expect varying tax bills. The 25th percentile tax bill is around $317, while the 75th percentile tax bill reaches approximately $1,465, and the 90th percentile tax bill can be as high as $3,277. These figures illustrate the range of property tax burdens that homeowners in Merry Hill may face, depending on the assessed value of their homes. Compared to the national median property tax rate of 0.99%, Merry Hill's property taxes can vary significantly, impacting homeowners' financial planning and budgeting. The highest and lowest median tax bills in the area are both $639, indicating some uniformity in certain parts of the region.
Average Merry Hill Tax Bill
$639
Average Bertie County Tax Bill
$505
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Merry Hill, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27957 | $148 | $317 | $639 | $1,465 | $3,277 |
Source: Ownwell