Halifax, North Carolina Property Taxes
The median property tax rate in Halifax, NC is 1.05%, which is higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Halifax at $49,200, the typical annual property tax bill reaches $537, still below the national median of $2,690. Property taxes in Halifax are calculated based on the tax assessed value, which often falls below market value due to exemptions like primary residence and agricultural exemptions. Understanding Halifax'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 Halifax 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
Halifax, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$517
-$5,414
Ownwell’s Halifax Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Halifax with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Halifax 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 Halifax, North Carolina
Property taxes in Halifax, 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 Halifax is 1.05%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Halifax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Halifax 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 Halifax's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27839 zip code has the highest median property tax rate of 1.05%, while the 27839 zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Halifax provides valuable insights into the varying tax landscape across Halifax County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Halifax Tax Rate
1.05%
Average Halifax County Tax Rate
1.26%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Halifax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27839 | 0.29% | 0.90% | 1.05% | 1.47% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Halifax, North Carolina
In Halifax, 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 Halifax 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 Halifax, 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 Halifax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the median home price in Halifax is $49,200, with tax bills ranging significantly. The highest median tax bill in the region is $537 in zip code 27839. By staying informed, homeowners can ensure they are not overpaying on their property taxes.
Average Halifax Assessed Value
$49,200
Average Halifax County Assessed Value
$52,600
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Halifax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27839 | $4,300 | $9,800 | $49,200 | $91,600 | $169,060 |
Source: Ownwell
Property Tax Bills Across Halifax, North Carolina
In Halifax, NC, property tax bills are determined by the assessed value of a home and the local tax rate. The median home price in Halifax is $49,200. Property taxes are calculated by multiplying the assessed value of the property by the local tax rate. This means homeowners in Halifax can expect their tax bills to vary significantly, with the 25th percentile paying around $121 and the 75th percentile paying up to $965. In some cases, particularly in areas with higher property values, tax bills can reach up to $1,509. The highest and lowest median tax bills in Halifax come from the same zip code, 27839, both at $537, indicating a consistent tax rate within that area. Compared to the national median property tax rate of 0.99%, Halifax's rates can be seen as relatively moderate, but the actual amount each homeowner pays will depend on the assessed value of their property. Understanding these factors helps homeowners anticipate their tax obligations and budget accordingly.
Average Halifax Tax Bill
$537
Average Halifax County Tax Bill
$701
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Halifax, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27839 | $44 | $121 | $537 | $965 | $1,509 |
Source: Ownwell