Hobucken, North Carolina Property Taxes
The median property tax rate in Hobucken, NC is 0.69%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $60,838, the typical annual property tax bill in Hobucken is approximately $417, significantly below the national median of $2,690. Property taxes in Hobucken are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Hobucken'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 Hobucken or another part of Pamlico County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hobucken, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$420
Ownwell’s Hobucken Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hobucken with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobucken 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 Hobucken, North Carolina
Property taxes in Hobucken, 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 Hobucken is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Hobucken set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobucken 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 Hobucken's effective property tax rate to other areas in Pamlico County and the national median. For comparison, the zip code 28537 has both the highest and lowest median property tax rate of 0.69%, reflecting uniformity in this region. Understanding how these areas compare with Hobucken provides valuable insights into the varying tax landscape across Pamlico County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobucken Tax Rate
0.69%
Average Pamlico County Tax Rate
0.69%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobucken, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28537 | 0.68% | 0.68% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Hobucken, North Carolina
In Hobucken, 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 Pamlico 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 Hobucken, 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 Hobucken helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hobucken is $60,838, with the highest and lowest median tax bills both being $417 in the 28537 zip code.
Average Hobucken Assessed Value
$60,838
Average Pamlico County Assessed Value
$145,305
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hobucken, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28537 | $21,875 | $39,409 | $60,838 | $87,106 | $141,348 |
Source: Ownwell
Property Tax Bills Across Hobucken, North Carolina
Property tax bills in Hobucken, located in Pamlico County, NC, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. The tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Hobucken, the median home price is $60,838. The tax bill can vary significantly, with the 25th percentile at $270 and the 75th percentile at $597. At the 90th percentile, homeowners might see tax bills as high as $963. In this region, the highest and lowest median tax bills are both $417, found in the zip code 28537. These property tax bills can have a considerable impact on homeowners, influencing their monthly expenses and overall financial planning. Compared to the national median property tax rate of 0.99%, the rates in Hobucken reflect the local economic conditions and property values, making it essential for homeowners to understand their tax obligations.
Average Hobucken Tax Bill
$417
Average Pamlico County Tax Bill
$1,045
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobucken, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28537 | $150 | $270 | $417 | $597 | $963 |
Source: Ownwell