Hickory, North Carolina Property Taxes
The median property tax rate in Hickory, NC is 0.85%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $206,400 in Hickory, the typical annual property tax bill reaches $1,453, which is lower than the national median of $2,690. Property taxes in Hickory 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 Hickory'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 Hickory 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
Hickory, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,754
Ownwell’s Hickory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hickory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hickory 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 Hickory, North Carolina
Property taxes in Hickory, 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 Hickory stands at 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Hickory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hickory 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 Hickory's effective property tax rate to other areas in Catawba County and the national median. For comparison, the 28601 zip code has the highest median property tax rate of 0.85%, while the 28602 zip code has the lowest median tax rate of 0.64%. Understanding how these areas compare with Hickory provides valuable insights into the varying tax landscape across Catawba County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hickory Tax Rate
0.85%
Average Catawba County Tax Rate
0.80%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hickory, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28601 | 0.50% | 0.81% | 0.85% | 0.85% | 0.94% |
| 28602 | 0.47% | 0.47% | 0.64% | 0.85% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Hickory, North Carolina
In Hickory, 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 Catawba 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 Hickory, 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 Hickory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hickory is $1,754 in the 28601 zip code, while the lowest is $1,173 in the 28602 zip code.
Average Hickory Assessed Value
$206,400
Average Catawba County Assessed Value
$180,000
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hickory, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28601 | $106,600 | $157,300 | $222,100 | $335,100 | $487,800 |
| 28602 | $53,210 | $119,800 | $181,100 | $262,200 | $367,690 |
Source: Ownwell
Property Tax Bills Across Hickory, North Carolina
Property tax bills in Hickory, located in Catawba County, NC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. In Hickory, the median home price is $206,400. Homeowners in this area experience a range of property tax bills. For instance, tax bills in the 25th percentile are around $995, while those in the 75th percentile reach approximately $2,359. The 90th percentile tax bills can go up to $3,573. Notably, the highest median tax bill in the city is $1,754 in the 28601 zip code, whereas the lowest median tax bill is $1,173 in the 28602 zip code. These property taxes significantly impact homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Hickory's tax rates reflect the local economic conditions and public service funding needs.
Average Hickory Tax Bill
$1,453
Average Catawba County Tax Bill
$1,310
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hickory, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28601 | $826 | $1,157 | $1,754 | $2,919 | $4,114 |
| 28602 | $397 | $821 | $1,173 | $1,606 | $2,210 |
Source: Ownwell