Sherrills Ford, North Carolina Property Taxes
The median property tax rate in Sherrills Ford, NC is 0.78%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Sherrills Ford at $277,900, the typical annual property tax bill reaches $1,995, falling below the national median of $2,690. Property taxes in Sherrills Ford are calculated based on the assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sherrills Ford'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 Sherrills Ford 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
Sherrills Ford, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,168
$2,011
Ownwell’s Sherrills Ford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sherrills Ford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sherrills Ford 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 Sherrills Ford, North Carolina
Property taxes in Sherrills Ford, 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 Sherrills Ford is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Sherrills Ford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sherrills Ford 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 Sherrills Ford's effective property tax rate to other areas in Catawba County and the national median. For comparison, the highest median property tax rate in Catawba County is also 0.78%, found in the zip code 28673, which is the same as Sherrills Ford's rate. Understanding how these areas compare with Sherrills Ford provides valuable insights into the varying tax landscape across Catawba County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sherrills Ford Tax Rate
0.78%
Average Catawba County Tax Rate
0.80%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sherrills Ford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28673 | 0.48% | 0.70% | 0.78% | 0.88% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Sherrills Ford, North Carolina
In Sherrills Ford, 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 Catawba 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 Sherrills Ford, 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 Sherrills Ford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 28673 has the highest and lowest median tax bill, both at $1,995, providing a clear picture of the local tax landscape.
Property Tax Assessment Values Across Sherrills Ford, North Carolina
Source: Ownwell
$39,100
$178,200
$317,300
Average Sherrills Ford Assessed Value
$277,900
Average Catawba County Assessed Value
$180,000
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sherrills Ford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28673 | $73,000 | $148,200 | $277,900 | $470,750 | $676,500 |
Source: Ownwell
Property Tax Bills Across Sherrills Ford, North Carolina
Property tax bills in Sherrills Ford, located in Catawba County, 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's office and reflects the market value of the home. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Sherrills Ford, homeowners can expect a range of property tax bills. The 25th percentile tax bill is around $1,149, while the 75th percentile reaches $3,706, and the 90th percentile can go up to $5,409. These figures demonstrate the variability in tax bills based on property values and other factors. Compared to the national median property tax rate of 0.99%, the property tax rates in Sherrills Ford can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are prepared for their property tax responsibilities.
Average Sherrills Ford Tax Bill
$1,995
Average Catawba County Tax Bill
$1,310
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Sherrills Ford, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28673 | $424 | $1,149 | $1,995 | $3,706 | $5,409 |
Source: Ownwell