Hobbsville, North Carolina Property Taxes
The median property tax rate in Hobbsville, NC is 0.73%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Hobbsville at $182,828, the typical annual property tax bill amounts to $1,231, significantly below the national median of $2,690. Property taxes in Hobbsville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hobbsville'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 Hobbsville 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
Hobbsville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,335
Ownwell’s Hobsville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hobsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobsville to provide an estimate of your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Hobbsville, North Carolina
Property taxes in Hobbsville, 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 Hobbsville is 0.73%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Hobbsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobbsville 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 Hobbsville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27946 zip code has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Hobbsville provides valuable insights into the varying tax landscape across Chowan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobbsville Tax Rate
0.73%
Average Chowan County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobbsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27946 | 0.37% | 0.59% | 0.73% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Hobbsville, North Carolina
In Hobbsville, 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 Chowan 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 Hobbsville, 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 Hobbsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Hobbsville is $1231 in the 27946 zip code, while the lowest is also $1231 in the same zip code.
Property Tax Assessment Values Across Hobbsville, North Carolina
Source: Ownwell
$139,402
$182,627
$225,852
Average Hobbsville Assessed Value
$182,828
Average Chowan County Assessed Value
$147,626
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hobbsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27946 | $89,468 | $116,958 | $182,828 | $241,940 | $329,475 |
Source: Ownwell
Property Tax Bills Across Hobbsville, North Carolina
In Hobbsville, Chowan County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Hobbsville experience property tax bills that vary widely, with the 25th percentile at $701 and the 75th percentile reaching $1,753. The 90th percentile can see tax bills as high as $2,112. The median home price in Hobbsville is $182,828, which influences the overall tax bill. Comparatively, the national median property tax rate is 0.99%, which offers a benchmark for understanding local tax burdens. In Hobbsville, the highest median tax bill recorded is $1,231 in the 27946 zip code. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the community and homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Hobbsville Tax Bill
$1,231
Average Chowan County Tax Bill
$1,115
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobbsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27946 | $411 | $701 | $1,231 | $1,753 | $2,112 |
Source: Ownwell