Benson, North Carolina Property Taxes
The median property tax rate in Benson, NC is 0.75%, lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Benson at $167,761, the typical annual property tax bill is $1,222, which is below the national median of $2,690. Property taxes in Benson are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Benson'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 Benson 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
Benson, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,258
Ownwell’s Benson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Benson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Benson 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 Benson, North Carolina
Property taxes in Benson, North Carolina, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Benson is 0.75%, significantly lower than the U.S. national median of 0.99%. Local government entities within Benson set these rates annually, and they can vary across different neighborhoods. Each year, Benson 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 Benson's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27504 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these figures compare with Benson provides valuable insights into the varying tax landscape across Harnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Benson Tax Rate
0.75%
Average Harnett County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27504 | 0.55% | 0.73% | 0.75% | 0.77% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Benson, North Carolina
In Benson, 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 Harnett 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 Benson, 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 Benson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $1,222 in the 27504 zip code.
Average Benson Assessed Value
$167,761
Average Harnett County Assessed Value
$199,846
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27504 | $99,919 | $137,530 | $167,761 | $240,966 | $328,322 |
Source: Ownwell
Property Tax Bills Across Benson, North Carolina
In Benson, located in Harnett County, NC, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The assessed value is determined by the county assessor's office and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Benson, the median home price is $167,761. Property tax bills can vary significantly, with the 25th percentile at $1,006, the 75th percentile at $1,669, and the 90th percentile reaching $2,227. This range illustrates how factors such as property size, location, and improvements can impact the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Benson's tax bills reflect a reasonable cost for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Benson Tax Bill
$1,222
Average Harnett County Tax Bill
$1,570
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Benson, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27504 | $714 | $1,006 | $1,222 | $1,669 | $2,227 |
Source: Ownwell