Tillery, North Carolina Property Taxes
The median property tax rate in Tillery, NC is 1.18%, which is significantly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $89,500 in Tillery, the typical annual property tax bill is $1,054, surpassing the national median of $2,690. Property taxes in Tillery are calculated based on the assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Tillery'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 Tillery 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
Tillery, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,056
-$11,068
Ownwell’s Tillery Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tillery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tillery 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 Tillery, North Carolina
Property taxes in Tillery, 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 Tillery is 1.18%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tillery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tillery 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 Tillery's effective property tax rate to other areas in Halifax County and the national median. For comparison, the 27887 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these areas compare with Tillery 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 Tillery Tax Rate
1.18%
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 Tillery, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27887 | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Tillery, North Carolina
In Tillery, 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 Tillery, 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. For instance, the highest and lowest median tax bills in Tillery are both $1,054, with the zip code 27887. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tillery Assessed Value
$89,500
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 Tillery, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27887 | $89,500 | $89,500 | $89,500 | $89,500 | $89,500 |
Source: Ownwell
Property Tax Bills Across Tillery, North Carolina
In Tillery, Halifax County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and reflects the market value of the property. Homeowners in Tillery experience a consistent median property tax bill of $1,054, which is significantly higher than the national median property tax rate of 0.99%. This figure remains steady across various percentiles, indicating a uniform tax rate application in the area. Factors influencing the tax bill include the home's assessed value, any applicable exemptions, and the local tax rate set by Halifax County. The uniformity in tax bills suggests that properties in Tillery are assessed similarly, providing predictability for homeowners. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. Understanding how these taxes are calculated helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Tillery Tax Bill
$1,054
Average Halifax County Tax Bill
$701
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Tillery, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27887 | $1,054 | $1,054 | $1,054 | $1,054 | $1,054 |
Source: Ownwell