Alamance, North Carolina Property Taxes
The median property tax rate in Alamance, NC is 0.66%, 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 $198,786 in Alamance, the typical annual property tax bill is $1,304, which is well below the national median of $2,690. Property taxes in Alamance are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Alamance'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 Alamance or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alamance, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,312
Ownwell’s Alamance Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alamance with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alamance 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 Alamance, North Carolina
Property taxes in Alamance, North Carolina, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Alamance is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Alamance set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alamance 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 Alamance's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27201 zip code has the highest median property tax rate of 0.66%, while the same zip code has the lowest median tax rate of 0.66%. Understanding how these cities compare with Alamance provides valuable insights into the varying tax landscape across the county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alamance Tax Rate
0.66%
Average Alamance County Tax Rate
0.49%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alamance, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27201 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Alamance, North Carolina
In Alamance, 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 Alamance 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 Alamance, 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 Alamance helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27201, with a value of $1,304.
Property Tax Assessment Values Across Alamance, North Carolina
Source: Ownwell
$100,580
$382,849
$665,118
Average Alamance Assessed Value
$198,786
Average Alamance County Assessed Value
$246,962
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alamance, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27201 | $148,388 | $167,288 | $198,786 | $230,956 | $250,259 |
Source: Ownwell
Property Tax Bills Across Alamance, North Carolina
Property tax bills in Alamance, NC, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For example, with a median home price of $198,786, homeowners can expect their property tax bill to fall within a certain range. The 25th percentile tax bill is approximately $1,098, while the 75th percentile reaches $1,516, and the 90th percentile is around $1,642. The local tax rate in Alamance is applied to the assessed value to determine the final bill. Homeowners in the zip code 27201 see a median tax bill of $1,304, which aligns closely with the national median property tax rate of 0.99%. These taxes fund essential community services such as schools, public safety, and infrastructure. Understanding how property taxes are calculated can help homeowners in Alamance budget accordingly and anticipate their annual expenses.
Average Alamance Tax Bill
$1,304
Average Alamance County Tax Bill
$1,218
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Alamance, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27201 | $974 | $1,098 | $1,304 | $1,516 | $1,642 |
Source: Ownwell