Biscoe, North Carolina Property Taxes
The median property tax rate in Biscoe, NC is 0.46%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Biscoe at $121,050, the typical annual property tax bill amounts to $554, far below the national median of $2,690. Property taxes in Biscoe are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Biscoe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Biscoe or another part of Moore County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Biscoe, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$557
Ownwell’s Biscoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Biscoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Biscoe 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 Biscoe, North Carolina
Property taxes in Biscoe, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Biscoe is 0.46%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Biscoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Biscoe 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 Biscoe's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27209 zip code has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these areas compare with Biscoe provides valuable insights into the varying tax landscape across Moore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Biscoe Tax Rate
0.46%
Average Moore County Tax Rate
0.60%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Biscoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27209 | 0.45% | 0.45% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Biscoe, North Carolina
In Biscoe, 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 Moore 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 Biscoe, 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 Biscoe is $121,050, with tax bills ranging from $298 at the 25th percentile to $1,559 at the 90th percentile. The highest and lowest median tax bills both stand at $554 in zip code 27209. 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 Biscoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Biscoe Assessed Value
$121,050
Average Moore County Assessed Value
$305,820
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Biscoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27209 | $40,674 | $70,480 | $121,050 | $200,640 | $309,802 |
Source: Ownwell
Property Tax Bills Across Biscoe, North Carolina
In Biscoe, located in Moore County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Biscoe is $121,050. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and market conditions can affect the assessed value. Homeowners in Biscoe can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $298, while at the 75th percentile, it rises to $992. For those at the 90th percentile, the tax bill can reach as high as $1,559. The highest median tax bill in the area is $554, which is consistent across the zip code 27209. When compared to the national median property tax rate of 0.99%, Biscoe's rates can be seen as relatively moderate, affecting homeowners' annual financial planning and budgeting.
Average Biscoe Tax Bill
$554
Average Moore County Tax Bill
$1,694
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Biscoe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27209 | $185 | $298 | $554 | $992 | $1,559 |
Source: Ownwell