Oxford, Granville County, North Carolina Property Taxes
The median property tax rate in Oxford, NC is 1.02%, slightly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Oxford at $101,668, the typical annual property tax bill reaches $1,063, which is lower than the national median of $2,690. Property taxes in Oxford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Oxford'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 Oxford 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
Oxford, Granville County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$1,037
$962
Ownwell’s Oxford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oxford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oxford 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 Oxford, Granville County, North Carolina
Property taxes in Oxford, North Carolina, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Oxford is 1.02%, higher than the U.S. national median of 0.99%. Local government entities within Oxford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oxford 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 Oxford's effective property tax rate to other areas and the national median. For comparison, the zip code 27565 has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these areas compare with Oxford provides valuable insights into the varying tax landscape across Granville County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oxford Tax Rate
1.02%
Average Granville County Tax Rate
1.00%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oxford, Granville County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27565 | 0.73% | 0.93% | 1.02% | 1.48% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Oxford, Granville County, North Carolina
In Oxford, 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 Granville 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 Oxford, 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 Oxford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Oxford is $101,668, with tax bills ranging from $692 at the 25th percentile to $2,632 at the 90th percentile. The highest and lowest median tax bills are both $1,063 in the 27565 zip code.
Property Tax Assessment Values Across Oxford, Granville County, North Carolina
Source: Ownwell
$56,307
$184,729
$313,151
Average Oxford Assessed Value
$101,668
Average Granville County Assessed Value
$137,588
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oxford, Granville County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27565 | $40,052 | $65,194 | $101,668 | $169,774 | $261,384 |
Source: Ownwell
Property Tax Bills Across Oxford, Granville County, North Carolina
Property tax bills in Oxford, NC, located in Granville County, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $101,668, homeowners can expect varying tax bills. The 25th percentile tax bill is around $692, while the 75th percentile reaches approximately $1,787. At the 90th percentile, tax bills can go up to $2,632. These figures indicate that property taxes in Oxford can vary significantly based on property values and specific local tax rates. Compared to the national median property tax rate of 0.99%, Oxford's property tax rates can be considered moderate, impacting homeowners differently depending on their property's assessed value. This variability underscores the importance of understanding how local assessments and tax rates influence overall property tax obligations.
Average Oxford Tax Bill
$1,063
Average Granville County Tax Bill
$1,476
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Oxford, Granville County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27565 | $435 | $692 | $1,063 | $1,787 | $2,632 |
Source: Ownwell