Hobgood, North Carolina Property Taxes
The median property tax rate in Hobgood, NC is 1.36%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Hobgood, the typical annual property tax bill reaches $519, which is significantly lower than the national median of $2,690. Property taxes in Hobgood 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 Hobgood'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 Hobgood 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
Hobgood, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$587
-$6,150
Ownwell’s Hobgood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hobgood with just two simple inputs. By entering your property's estimated assessed value, our calculator applies the median tax rate in Hobgood to provide an accurate estimate of your property tax bill. This valuable tool enables you to understand potential tax liabilities with ease. For those interested in more granular insights, scroll down to uncover neighborhood-level trends. Your property’s assessed value, determined by Halifax County, forms the basis for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Hobgood, North Carolina
Property taxes in Hobgood, 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 Hobgood is 1.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hobgood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hobgood 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 Hobgood's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27843 has the highest median property tax rate of 1.36%, which is also the same as the lowest median tax rate in the same zip code. Understanding how these areas compare with Hobgood 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 Hobgood Tax Rate
1.36%
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 Hobgood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27843 | 0.26% | 0.86% | 1.36% | 1.70% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Hobgood, North Carolina
In Hobgood, 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 Hobgood, 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 Hobgood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hobgood is $519, found in the 27843 zip code, while the lowest median tax bill is also $519 in the same zip code.
Average Hobgood Assessed Value
$43,150
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 Hobgood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27843 | $5,000 | $18,675 | $43,150 | $72,600 | $184,800 |
Source: Ownwell
Property Tax Bills Across Hobgood, North Carolina
In Hobgood, Halifax County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $43,150, homeowners can expect a tax bill that varies significantly. The 25th percentile tax bill is around $214, while the 75th percentile tax bill reaches $796, and the 90th percentile tax bill goes up to $1,128. These variations are influenced by factors such as property location, improvements, and market trends. Compared to the national median property tax rate of 0.99%, Hobgood's tax rates can be seen as relatively moderate, providing some relief to homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly, ensuring they are well-prepared for their annual property tax bills.
Average Hobgood Tax Bill
$519
Average Halifax County Tax Bill
$701
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Hobgood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27843 | $50 | $214 | $519 | $796 | $1,128 |
Source: Ownwell