Hoke County Property Taxes
The median property tax rate in Hoke County is 0.88%, which is lower than the national median of 0.99% but slightly higher than the North Carolina state median of 0.82%. With the median home value in Hoke County at $178,870, the typical annual property tax bill amounts to $1,520, considerably lower than the national median of $2,690. Property taxes in Hoke County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Hoke County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Raeford or another part of Hoke County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hoke County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,574
Ownwell’s Hoke County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hoke County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Hoke County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Hoke County, North Carolina
Property taxes in Hoke County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Hoke County is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Hoke County set these rates annually, and they can vary significantly between different areas within the county. Each year, Hoke County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Hoke County's effective property tax rate with other counties in North Carolina and the national median. For comparison, the city of Red Springs has one of the higher property tax rates in North Carolina at 0.94%, while the city of Raeford boasts one of the lowest at 0.87%. Analyzing how Hoke County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Hoke County Tax Rate
0.88%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hoke County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aberdeen | 0.53% | 0.83% | 0.88% | 0.93% | 1.01% |
| Fayetteville | 0.72% | 0.88% | 0.90% | 0.91% | 0.95% |
| Lumber Bridge | 0.67% | 0.83% | 0.89% | 0.96% | 1.07% |
| Maxton | 0.66% | 0.71% | 0.93% | 0.98% | 1.13% |
| Parkton | 0.70% | 0.78% | 0.88% | 0.91% | 0.96% |
| Raeford | 0.72% | 0.81% | 0.87% | 0.90% | 0.96% |
| Red Springs | 0.56% | 0.83% | 0.94% | 1.06% | 1.22% |
| Shannon | 0.59% | 0.83% | 0.93% | 1.04% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Hoke County, North Carolina
In Hoke County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Hoke County Appraisal District. The assessed value, however, 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. Assessment notices in Hoke County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the median home price in the county is $178,870, with the highest median tax bill in Raeford at $1,560 and the lowest in Red Springs at $747. Being aware of these valuation processes in Hoke County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Hoke County, North Carolina
Source: Ownwell
$74,340
$136,390
$198,440
Average Hoke County Assessed Value
$178,870
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hoke County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aberdeen | $63,969 | $103,105 | $182,810 | $260,635 | $361,859 |
| Fayetteville | $92,803 | $135,390 | $166,210 | $214,165 | $250,731 |
| Lumber Bridge | $42,327 | $74,668 | $158,840 | $229,280 | $306,445 |
| Maxton | $32,650 | $47,720 | $98,760 | $125,685 | $185,050 |
| Parkton | $96,178 | $140,700 | $198,440 | $303,920 | $400,446 |
| Raeford | $73,070 | $133,660 | $183,410 | $242,892 | $302,937 |
| Red Springs | $25,616 | $47,395 | $87,190 | $148,865 | $223,366 |
| Shannon | $33,538 | $55,265 | $103,970 | $163,405 | $278,728 |
Source: Ownwell
Property Tax Bills Across Hoke County, North Carolina
In Hoke County, NC, property tax bills are calculated based on the assessed value of a home. The county's median home price is $178,870, and tax rates are applied to this assessed value to determine the annual tax bill. Homeowners in this county experience a range of tax bills, with the 25th percentile paying around $1,023 and the 75th percentile paying approximately $1,994. For those in the 90th percentile, tax bills can reach up to $2,469. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local rates. Homeowners in Hoke County, particularly those in Raeford, face the highest median tax bill at $1,560, while those in Red Springs enjoy the lowest median tax bill of $747. These variations significantly impact homeowners' annual expenses and financial planning.
Average Hoke County Tax Bill
$1,520
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hoke County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aberdeen | $449 | $795 | $1,302 | $2,242 | $3,058 |
| Fayetteville | $773 | $1,180 | $1,471 | $1,857 | $2,120 |
| Lumber Bridge | $393 | $694 | $1,353 | $1,985 | $2,555 |
| Maxton | $354 | $428 | $854 | $1,173 | $1,666 |
| Parkton | $823 | $1,126 | $1,450 | $2,606 | $3,186 |
| Raeford | $562 | $1,121 | $1,560 | $2,021 | $2,477 |
| Red Springs | $272 | $456 | $747 | $1,255 | $1,799 |
| Shannon | $329 | $484 | $844 | $1,374 | $2,213 |
Source: Ownwell