Grandy, North Carolina Property Taxes
The median property tax rate in Grandy, NC is 0.71%, 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 $97,200 in Grandy, the typical annual property tax bill amounts to $727, which is significantly below the national median of $2,690. Property taxes in Grandy are determined based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Grandy's property tax system, exploring all available exemptions, and identifying potential opportunities for reductions can result in substantial annual savings. Whether you're situated in the heart of Grandy or another part of Currituck County, familiarizing yourself with the local property tax structure will benefit both homeowners and real estate investors alike.
Last Updated June 14, 2024
Grandy, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$690
$640
Ownwell’s Grandy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grandy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grandy 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 Currituck County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Grandy, North Carolina
Property taxes in Grandy, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grandy is 0.71%, significantly lower than the U.S. national median of 0.99%. Local government entities within Grandy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grandy 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 Grandy's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27939 has the highest median property tax rate of 0.71%, while the same zip code also has the lowest median tax rate of 0.71%. Understanding how these areas compare with Grandy provides valuable insights into the varying tax landscape across Currituck County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grandy Tax Rate
0.71%
Average Currituck County Tax Rate
0.71%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grandy, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27939 | 0.56% | 0.61% | 0.71% | 0.92% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Grandy, North Carolina
In Grandy, 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 Currituck 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 Grandy, 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 Grandy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Grandy are both $727.00, occurring in the zip code 27939.
Average Grandy Assessed Value
$97,200
Average Currituck County Assessed Value
$330,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grandy, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27939 | $22,400 | $42,950 | $97,200 | $195,050 | $278,920 |
Source: Ownwell
Property Tax Bills Across Grandy, North Carolina
In Grandy, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Currituck County. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Homeowners in Grandy can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $422, while the 75th percentile reaches $1,260, and the 90th percentile can be as high as $1,765. These tax bills are influenced by factors such as property size, location, and any improvements made. The median home price in Grandy is $97,200, which helps put these tax figures into perspective. Compared to the national median property tax rate of 0.99%, Grandy's property tax rates are relatively moderate. Understanding how these factors interplay helps homeowners anticipate their annual tax obligations and plan their finances accordingly, ensuring they are prepared for their property tax responsibilities.
Average Grandy Tax Bill
$727
Average Currituck County Tax Bill
$2,308
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Grandy, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27939 | $194 | $422 | $727 | $1,260 | $1,765 |
Source: Ownwell