Hobbsville, Gates County, North Carolina Property Taxes
The median property tax rate in Hobbsville, NC is 1.00%, slightly higher than the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Hobbsville at $123,310, the typical annual property tax bill reaches $1,241, which is below the national median of $2,690. Property taxes in Hobbsville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Hobbsville'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 Hobbsville 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
Hobbsville, Gates County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,233
$1,144
Ownwell’s Hobbsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hobbsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hobbsville 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 Hobbsville, Gates County, North Carolina
Property taxes in Hobbsville, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hobbsville is 0.78%, lower than the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Hobbsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobbsville 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 Hobbsville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27946 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Hobbsville provides valuable insights into the varying tax landscape across Gates County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hobbsville Tax Rate
1.00%
Average Gates County Tax Rate
1.03%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hobbsville, Gates County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27946 | 0.58% | 0.87% | 1.00% | 1.10% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Hobbsville, Gates County, North Carolina
In Hobbsville, 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 local 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 Hobbsville, 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 Hobbsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1241.00, found in zip code 27946.
Property Tax Assessment Values Across Hobbsville, Gates County, North Carolina
Source: Ownwell
$111,782
$119,517
$127,252
Average Hobbsville Assessed Value
$123,310
Average Gates County Assessed Value
$119,144
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hobbsville, Gates County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27946 | $39,982 | $76,521 | $123,310 | $191,767 | $283,740 |
Source: Ownwell
Property Tax Bills Across Hobbsville, Gates County, North Carolina
In Hobbs County, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The tax rate is applied to this assessed value to determine the annual tax bill. For example, homeowners with properties valued at the median home price of $123,310 can expect varying tax bills depending on specific factors like location and property characteristics. In Gates County, the 25th percentile tax bill is around $737, while the 75th percentile tax bill reaches $1,702, and the 90th percentile tax bill can go up to $2,224. These figures indicate that homeowners with higher-valued properties or those in more desirable areas will face higher tax bills. The highest and lowest median tax bills in the county are both $1,241, specifically in the 27946 zip code. Compared to the national median property tax rate of 0.99%, the property tax rates in Hobbs County can significantly impact homeowners, influencing their overall financial planning and home affordability.
Average Hobbsville Tax Bill
$1,241
Average Gates County Tax Bill
$1,215
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobbsville, Gates County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27946 | $458 | $737 | $1,241 | $1,702 | $2,224 |
Source: Ownwell