Engelhard, North Carolina Property Taxes
The median property tax rate in Engelhard, NC is 0.90%, slightly below the national median of 0.99% but above the North Carolina state median of 0.82%. With the median home value in Engelhard at $50,948, the typical annual property tax bill is around $453, significantly lower than the national median of $2,690. Property taxes in Engelhard are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Engelhard'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 Engelhard or another part of Hyde County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Engelhard, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$459
Ownwell’s Engelhard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Engelhard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Engelhard 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 Engelhard, North Carolina
Property taxes in Engelhard, 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 Engelhard is 0.90%, slightly below the U.S. national median of 0.99%. Local government entities within Engelhard set these rates annually, and they can vary significantly across different neighborhoods. Each year, Engelhard 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 Engelhard's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27824 has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these areas compare with Engelhard provides valuable insights into the varying tax landscape across Hyde County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Engelhard Tax Rate
0.90%
Average Hyde County Tax Rate
0.90%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Engelhard, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27824 | 0.89% | 0.89% | 0.90% | 0.90% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Engelhard, North Carolina
In Engelhard, 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 Hyde 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 Engelhard, 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 Engelhard helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Engelhard is $50,948, with tax bills ranging from $238 at the 25th percentile to $2,461 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 27824, standing at $453.
Property Tax Assessment Values Across Engelhard, North Carolina
Source: Ownwell
$50,948
$159,903
$268,857
Average Engelhard Assessed Value
$50,948
Average Hyde County Assessed Value
$78,676
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Engelhard, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27824 | $13,110 | $26,634 | $50,948 | $128,386 | $286,633 |
Source: Ownwell
Property Tax Bills Across Engelhard, North Carolina
In Engelhard, Hyde County, NC, property tax bills are calculated based on the assessed value of your home. The local tax assessor determines this value, which typically aligns closely with the market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. For instance, if your home is valued at the median home price of $50,948, your tax bill would be influenced by this valuation. Homeowners in Engelhard can expect tax bills to vary significantly. The 25th percentile tax bill is around $238, while the 75th percentile reaches up to $1,063. For those at the 90th percentile, tax bills can soar to $2,461. The median tax bill in the area is $453, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential local services like schools, infrastructure, and emergency services, directly impacting the quality of life in Engelhard.
Average Engelhard Tax Bill
$453
Average Hyde County Tax Bill
$681
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Engelhard, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27824 | $116 | $238 | $453 | $1,063 | $2,461 |
Source: Ownwell