Seagrove, North Carolina Property Taxes
The median property tax rate in Seagrove, NC is 0.62%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $95,768 in Seagrove, the typical annual property tax bill is $597, well below the national median of $2,690. Property taxes in Seagrove are determined based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Seagrove'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 Seagrove or another part of Montgomery County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seagrove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$594
Ownwell’s Seagrove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seagrove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seagrove 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 Seagrove, North Carolina
Property taxes in Seagrove, 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 Seagrove is 0.62%, lower than the U.S. national median of 0.99%. Local government entities within Seagrove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seagrove 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 Seagrove's effective property tax rate to other areas in North Carolina and the national median. For comparison, the 27341 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Seagrove provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seagrove Tax Rate
0.62%
Average Montgomery County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seagrove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27341 | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Seagrove, North Carolina
In Seagrove, 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 Montgomery 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 Seagrove, 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. For instance, the median home price in Seagrove is $95,768, with tax bills ranging from $381 at the 25th percentile to $1,416 at the 90th percentile. The zip code 27341 has the highest median tax bill at $597. 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 Seagrove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Seagrove Assessed Value
$95,768
Average Montgomery County Assessed Value
$75,538
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seagrove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27341 | $24,323 | $60,561 | $95,768 | $149,250 | $225,439 |
Source: Ownwell
Property Tax Bills Across Seagrove, North Carolina
In Seagrove, Montgomery County, NC, property tax bills are calculated based on the assessed value of a home. The median home price in Seagrove is $95,768, and the property tax rate is applied to this value to determine the annual tax bill. Factors considered include the home's assessed value, which is determined by the county assessor, and the local tax rate. Homeowners can expect to pay a median tax bill of $597, which is significantly lower than the national median property tax rate of 0.99%. The 25th percentile tax bill in Seagrove is $381, while the 75th percentile tax bill is $888, and the 90th percentile tax bill reaches $1,416. These figures indicate that most homeowners in Seagrove pay relatively modest property taxes compared to other regions. Lower property taxes can make homeownership more affordable, but they also mean that local governments may have fewer resources for public services and infrastructure.
Average Seagrove Tax Bill
$597
Average Montgomery County Tax Bill
$505
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Seagrove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27341 | $191 | $381 | $597 | $888 | $1,416 |
Source: Ownwell