Frisco, North Carolina Property Taxes
The median property tax rate in Frisco, NC is 0.59%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Frisco at $322,000, the typical annual property tax bill reaches $1,861, which is significantly below the national median of $2,690. Property taxes in Frisco are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Frisco'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 Frisco 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
Frisco, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$1,900
Ownwell’s Frisco Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frisco with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frisco 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 Frisco, North Carolina
Property taxes in Frisco, 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 Frisco is 0.59%, which is lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Frisco set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frisco 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 Frisco's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27936 zip code has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Frisco provides valuable insights into the varying tax landscape across Dare County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frisco Tax Rate
0.59%
Average Dare County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frisco, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27936 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Frisco, North Carolina
In Frisco, 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 Dare 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 Frisco, 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 Frisco is $322,000, with the 25th percentile tax bill at $1,432 and the 75th percentile tax bill at $2,504. 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 Frisco helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Frisco Assessed Value
$322,000
Average Dare County Assessed Value
$355,020
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frisco, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27936 | $181,211 | $252,316 | $322,000 | $433,068 | $555,454 |
Source: Ownwell
Property Tax Bills Across Frisco, North Carolina
Property tax bills in Frisco, Dare County, NC, are determined based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $322,000, homeowners can expect varying tax bills depending on their property's specific assessed value and the applicable tax rate. The tax bill for the 25th percentile is $1,432, while the 75th percentile tax bill is $2,504, and the 90th percentile reaches $3,267. These figures highlight the range of property tax obligations within the community. Compared to the national median property tax rate of 0.99%, Frisco's tax rates can significantly impact homeowners' annual expenses. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can influence the assessed value, thereby affecting the overall tax bill. Understanding these elements is crucial for homeowners to budget effectively and anticipate future tax liabilities.
Average Frisco Tax Bill
$1,861
Average Dare County Tax Bill
$2,313
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Frisco, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27936 | $990 | $1,432 | $1,861 | $2,504 | $3,267 |
Source: Ownwell