Como, North Carolina Property Taxes
The median property tax rate in COMO, NC is 1.14%, 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 COMO at $63,262, the typical annual property tax bill reaches $764, exceeding the national median of $2,690. Property taxes in COMO 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 COMO'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 COMO 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
Como, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$721
$669
Ownwell’s COMO Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in COMO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in COMO 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 Como, North Carolina
Property taxes in COMO, 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 COMO is 1.14%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within COMO set these rates annually, and they can vary significantly across different neighborhoods. Each year, COMO 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 COMO's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27818 zip code has the highest median property tax rate of 1.14%, while the 27818 zip code has the lowest median tax rate of 1.14%. Understanding how these cities compare with COMO provides valuable insights into the varying tax landscape across Hertford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Como Tax Rate
1.14%
Average Hertford County Tax Rate
1.29%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Como, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27818 | 0.84% | 0.93% | 1.14% | 1.35% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Como, North Carolina
In COMO, 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 Hertford 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 COMO, 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 COMO helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 27818, where homeowners face an annual bill of $764.00.
Average Como Assessed Value
$63,262
Average Hertford County Assessed Value
$63,714
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Como, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27818 | $15,452 | $32,406 | $63,262 | $110,920 | $189,928 |
Source: Ownwell
Property Tax Bills Across Como, North Carolina
In COMO, located in Hertford County, NC, property tax bills are calculated based on the assessed value of your home. The median home price in this area is $63,262. To determine your tax bill, the assessed value is multiplied by the local tax rate. For example, if your home is assessed at the median price, you can expect a tax bill around $764, which is consistent with the highest and lowest median tax bills in the region. Factors that influence your property tax bill include the home's assessed value and the local tax rate. Homeowners in the 25th percentile typically see tax bills around $485, while those in the 75th percentile face bills closer to $1,143. The 90th percentile can see bills as high as $1,828. Understanding these factors helps homeowners anticipate their property tax obligations and plan accordingly. Compared to the national median property tax rate of 0.99%, COMO's rates reflect localized economic conditions and property values, offering a clear picture of the financial landscape for residents.
Average Como Tax Bill
$764
Average Hertford County Tax Bill
$793
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Como, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27818 | $142 | $485 | $764 | $1,143 | $1,828 |
Source: Ownwell