Graham, North Carolina Property Taxes
The median property tax rate in Graham, NC is 0.46%, 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 Graham at $256,408, the typical annual property tax bill is $1,199, well below the national median of $2,690. Property taxes in Graham are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Graham'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 Graham or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graham, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$1,179
Ownwell’s Graham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graham 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 Graham, North Carolina
Property taxes in Graham, North Carolina, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Graham is 0.46%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Graham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graham 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 Graham's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27253 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 cities compare with Graham provides valuable insights into the varying tax landscape across Alamance County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graham Tax Rate
0.46%
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 Graham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27253 | 0.43% | 0.43% | 0.46% | 0.49% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Graham, North Carolina
In Graham, 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 Graham, 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. The median home price in Graham is $256,408, with tax bills ranging from $816 at the 25th percentile to $2,097 at the 90th percentile. The zip code 27253 has both the highest and lowest median tax bills at $1,199. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Graham Assessed Value
$256,408
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 Graham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27253 | $112,727 | $176,176 | $256,408 | $342,254 | $437,896 |
Source: Ownwell
Property Tax Bills Across Graham, North Carolina
In Graham, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the Alamance County tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Graham, the median home price is $256,408, and property tax bills can vary significantly. For instance, at the 25th percentile, the tax bill is approximately $816, while at the 75th percentile, it rises to about $1602. The 90th percentile sees tax bills reaching up to $2097. The highest and lowest median tax bills in the area are both $1199, specifically in the 27253 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure. While the national median property tax rate is 0.99%, the specific rate in Graham will directly impact how much homeowners pay annually, influencing their overall cost of living and financial planning.
Average Graham Tax Bill
$1,199
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 Graham, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27253 | $519 | $816 | $1,199 | $1,602 | $2,097 |
Source: Ownwell