Harrellsville, North Carolina Property Taxes
The median property tax rate in Harrellsville, NC is 1.15%, 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 Harrellsville, the typical annual property tax bill reaches $754, falling below the national median of $2,690. Property taxes in Harrellsville 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 Harrellsville'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 Harrellsville 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
Harrellsville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$741
$687
Ownwell’s Harrellsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrellsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrellsville 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 Harrellsville, North Carolina
Property taxes in Harrellsville, 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 Harrellsville is 1.15%, significantly higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Harrellsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrellsville 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 Harrellsville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27942 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Harrellsville 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 Harrellsville Tax Rate
1.15%
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 Harrellsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27942 | 0.84% | 0.88% | 1.15% | 1.29% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Harrellsville, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harrellsville, North Carolina. 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. Assessment notices in Harrellsville 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. In Harrellsville, the median home price is $64,408, with the 25th percentile tax bill at $460 and the 75th percentile at $1,168. Notably, the highest and lowest median tax bills are both $754 in the 27942 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Harrellsville, North Carolina
Source: Ownwell
$48,381
$74,027
$99,672
Average Harrellsville Assessed Value
$64,408
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 Harrellsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27942 | $16,201 | $31,198 | $64,408 | $116,922 | $198,868 |
Source: Ownwell
Property Tax Bills Across Harrellsville, North Carolina
In Harrellsville, located in Hertford County, NC, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in this area experience a median home price of $64,408, which is relatively low compared to national averages. The property tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Harrellsville, the 25th percentile tax bill is $460, while the 75th percentile tax bill is $1,168. At the higher end, the 90th percentile tax bill reaches $1,764. The highest and lowest median tax bills in the area are both $754, occurring in the 27942 zip code. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how property tax bills are calculated helps homeowners in Harrellsville anticipate their annual expenses and plan their finances accordingly.
Average Harrellsville Tax Bill
$754
Average Hertford County Tax Bill
$793
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrellsville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27942 | $147 | $460 | $754 | $1,168 | $1,764 |
Source: Ownwell