Holly Springs, North Carolina Property Taxes
The median property tax rate in Holly Springs, NC is 0.70%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $278,406, the typical annual property tax bill in Holly Springs amounts to $1,896, falling below the national median of $2,690. Property taxes in Holly Springs are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Holly Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Holly Springs 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
Holly Springs, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,949
$1,808
Ownwell’s Holly Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holly Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holly Springs 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 Holly Springs, North Carolina
Property taxes in Holly Springs, 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 Holly Springs is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Holly Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holly Springs 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 Holly Springs' effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27540 has both the highest and lowest median property tax rate in Harnett County at 0.70%. Understanding how these cities compare with Holly Springs provides valuable insights into the varying tax landscape across Harnett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holly Springs Tax Rate
0.70%
Average Harnett County Tax Rate
0.75%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27540 | 0.67% | 0.69% | 0.70% | 0.71% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Holly Springs, North Carolina
In Holly Springs, 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 Harnett 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 Holly Springs, 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 Holly Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Holly Springs is $278,406, with the 25th percentile tax bill at $1,390 and the 75th percentile tax bill at $2,815. The highest and lowest median tax bills are both in the 27540 zip code, amounting to $1,896.
Property Tax Assessment Values Across Holly Springs, North Carolina
Source: Ownwell
$124,172
$203,073
$281,974
Average Holly Springs Assessed Value
$278,406
Average Harnett County Assessed Value
$199,846
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27540 | $146,110 | $200,378 | $278,406 | $419,081 | $574,729 |
Source: Ownwell
Property Tax Bills Across Holly Springs, North Carolina
In Holly Springs, located in Harnett 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 assessor and reflects the property's market value. Homeowners in Holly Springs pay a median property tax rate of 0.99%, which aligns with the national median. Several factors influence the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. For instance, homes in Holly Springs with a median home price of $278,406 can expect tax bills ranging from $1,390 at the 25th percentile to $3,808 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,896, as observed in the 27540 zip code. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners need to stay informed about their property's assessed value and any changes in the local tax rate to manage their financial planning effectively.
Average Holly Springs Tax Bill
$1,896
Average Harnett County Tax Bill
$1,570
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Holly Springs, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27540 | $1,010 | $1,390 | $1,896 | $2,815 | $3,808 |
Source: Ownwell