Harmony, North Carolina Property Taxes
The median property tax rate in Harmony, NC is 0.77%, 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 Harmony, the typical annual property tax bill is $1,018, significantly below the national median of $2,690. Property taxes in Harmony are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Harmony'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 Harmony or another part of Davie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harmony, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,172
-$12,279
Ownwell’s Harmony Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harmony with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harmony 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 Harmony, North Carolina
Property taxes in Harmony, 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 Harmony is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Harmony set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harmony 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 Harmony's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28634 zip code has the highest median property tax rate of 0.77%, while the 28634 zip code also has the lowest median tax rate of 0.77%. Understanding how these areas compare with Harmony provides valuable insights into the varying tax landscape across Davie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harmony Tax Rate
0.77%
Average Davie County Tax Rate
0.77%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harmony, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28634 | 0.41% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Harmony, North Carolina
In Harmony, 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 Davie 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 Harmony, 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. For instance, homeowners in the 28634 zip code have a median tax bill of $1,018, illustrating the range within the area. 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 Harmony helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harmony Assessed Value
$152,160
Average Davie County Assessed Value
$176,350
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harmony, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28634 | $47,490 | $91,720 | $152,160 | $218,960 | $282,840 |
Source: Ownwell
Property Tax Bills Across Harmony, North Carolina
In Harmony, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county and reflects the market value of the home. For example, with a median home price of $152,160 in Harmony, homeowners can expect varying tax bills depending on their property's assessed value and the local tax rate. Factors such as property location, size, and improvements can influence the assessed value. Tax bills in Harmony can range significantly, with the 25th percentile at $580 and the 75th percentile at $1506. The 90th percentile tax bill reaches up to $2045, demonstrating the variability based on property valuations. Homeowners in Harmony should be aware of these factors as they can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Harmony's property tax rates offer a range that can either align with or exceed national averages, affecting the overall affordability and financial planning for homeowners in the area.
Average Harmony Tax Bill
$1,018
Average Davie County Tax Bill
$1,442
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Harmony, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28634 | $313 | $580 | $1,018 | $1,506 | $2,045 |
Source: Ownwell