Creedmoor, North Carolina Property Taxes
The median property tax rate in Creedmoor, NC is 1.30%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Creedmoor at $165,175, the typical annual property tax bill reaches $2,072, which is below the national median of $2,690. Property taxes in Creedmoor 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 Creedmoor'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 Creedmoor 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
Creedmoor, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,147
Ownwell’s Creedmoor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creedmoor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creedmoor 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 Creedmoor, North Carolina
Property taxes in Creedmoor, 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 Creedmoor is 1.30%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Creedmoor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creedmoor 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 Creedmoor's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27522 zip code has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these cities compare with Creedmoor provides valuable insights into the varying tax landscape across Granville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Creedmoor Tax Rate
1.30%
Average Granville County Tax Rate
1.00%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Creedmoor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27522 | 0.90% | 0.95% | 1.30% | 1.51% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Creedmoor, North Carolina
In Creedmoor, 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 Granville 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 Creedmoor, 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. The median home price in Creedmoor is $165,175, with tax bills ranging from $1,316 at the 25th percentile to $3,522 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Creedmoor, North Carolina
Source: Ownwell
$56,307
$184,729
$313,151
Average Creedmoor Assessed Value
$165,175
Average Granville County Assessed Value
$137,588
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Creedmoor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27522 | $72,052 | $113,230 | $165,175 | $218,343 | $303,984 |
Source: Ownwell
Property Tax Bills Across Creedmoor, North Carolina
In Creedmoor, Granville County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically reflects a percentage of the market value of the property. Granville County uses this assessed value to calculate the property tax bill by applying the local tax rate. Homeowners in Creedmoor can expect to see a range of property tax bills. For instance, the 25th percentile tax bill is $1,316, while the 75th percentile tax bill is $2,788, and the 90th percentile tax bill reaches up to $3,522. These tax bills significantly impact homeowners' finances, as they are a recurring expense that must be budgeted for annually. The median home price in Creedmoor is $165,175, which, when compared to the national median property tax rate of 0.99%, shows that local tax rates and policies can lead to varying financial obligations for property owners. Understanding these factors helps homeowners better prepare for their annual property tax liabilities.
Average Creedmoor Tax Bill
$2,072
Average Granville County Tax Bill
$1,476
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Creedmoor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27522 | $808 | $1,316 | $2,072 | $2,788 | $3,522 |
Source: Ownwell