Scotland Neck, Halifax County, North Carolina Property Taxes
The median property tax rate in Scotland Neck, NC is 1.22%, 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 Scotland Neck at $50,800, the typical annual property tax bill reaches $602, which is significantly lower than the national median of $2,690. Property taxes in Scotland Neck 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 Scotland Neck'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 Scotland Neck 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
Scotland Neck, Halifax County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$620
$575
Ownwell’s Scotland Neck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scotland Neck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scotland Neck 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 Scotland Neck, Halifax County, North Carolina
Property taxes in Scotland Neck, 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 Scotland Neck is 1.22%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within the city set these rates annually, and they can vary across different neighborhoods. Each year, Scotland Neck 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 Scotland Neck's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27874 has the highest median property tax rate of 1.22%, while the same zip code also has the lowest median tax rate of 1.22%. Understanding how these areas compare with Scotland Neck 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.
Property Tax Rates Across Scotland Neck, Halifax County, North Carolina
Source: Ownwell
0.98%
1.49%
1.99%
Average Scotland Neck Tax Rate
1.22%
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 Scotland Neck, Halifax County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27874 | 0.28% | 0.90% | 1.22% | 1.73% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Scotland Neck, Halifax County, North Carolina
In Scotland Neck, 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 Scotland Neck, 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 Scotland Neck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 27874, both at $602, compared to the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Scotland Neck, Halifax County, North Carolina
Source: Ownwell
$33,800
$50,600
$67,400
Average Scotland Neck Assessed Value
$50,800
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 Scotland Neck, Halifax County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27874 | $6,300 | $21,125 | $50,800 | $95,650 | $214,200 |
Source: Ownwell
Property Tax Bills Across Scotland Neck, Halifax County, North Carolina
In Scotland Neck, Halifax County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in the area is $50,800. To calculate the tax bill, the assessed value is multiplied by the local property tax rate. Various factors influence the assessed value, including the home's size, age, location, and any improvements made. The property tax rate in Halifax County can lead to different tax bills. For instance, the 25th percentile tax bill is around $286, while the 75th percentile reaches up to $1,018. For those in the 90th percentile, property taxes can be as high as $1,629. These variations depend on the property's assessed value and exemptions that might apply. Homeowners in Scotland Neck can expect a median property tax bill of $602, which compares favorably to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Property Tax Bills Across Scotland Neck, Halifax County, North Carolina
Source: Ownwell
$395
$721
$1,046
Average Scotland Neck Tax Bill
$602
Average Halifax County Tax Bill
$701
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Scotland Neck, Halifax County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27874 | $64 | $286 | $602 | $1,018 | $1,629 |
Source: Ownwell