Murfreesboro, North Carolina Property Taxes
The median property tax rate in Murfreesboro, NC is 1.50%, 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 Murfreesboro, the typical annual property tax bill reaches $809, which is significantly lower than the national median of $2,690. Property taxes in Murfreesboro 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 Murfreesboro'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 Murfreesboro 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
Murfreesboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$965
$895
Ownwell’s Murfreesboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murfreesboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murfreesboro 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 Murfreesboro, North Carolina
Property taxes in Murfreesboro, North Carolina, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Murfreesboro is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within Murfreesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murfreesboro 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 Murfreesboro's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27855 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Murfreesboro 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 Murfreesboro Tax Rate
1.50%
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 Murfreesboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27855 | 0.84% | 1.07% | 1.50% | 1.50% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Murfreesboro, North Carolina
In Murfreesboro, 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 Murfreesboro, 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. The median home price in Murfreesboro is $64,321, with tax bills ranging from $479 at the 25th percentile to $2,161 at the 90th percentile. 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 Murfreesboro, North Carolina
Source: Ownwell
$48,381
$74,027
$99,672
Average Murfreesboro Assessed Value
$64,321
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 Murfreesboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27855 | $14,175 | $32,557 | $64,321 | $116,607 | $170,445 |
Source: Ownwell
Property Tax Bills Across Murfreesboro, North Carolina
In Murfreesboro, located in Hertford County, NC, property tax bills are calculated based on the assessed value of your home. The assessed value, which is determined by the county, considers factors such as property size, location, and market conditions. The tax rate is then applied to this assessed value to determine your annual tax bill. For example, with a median home price of $64,321, homeowners can expect their property tax bill to range significantly. At the 25th percentile, the tax bill is $479, while at the 75th percentile, it rises to $1,451, and at the 90th percentile, it can reach $2,161. Comparatively, the national median property tax rate is 0.99%, making Murfreesboro's rates relatively moderate. These tax bills impact homeowners by influencing their overall housing costs and potentially affecting their financial planning and budgeting. Understanding these calculations can help homeowners anticipate their annual expenses and plan accordingly.
Average Murfreesboro Tax Bill
$809
Average Hertford County Tax Bill
$793
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Murfreesboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27855 | $162 | $479 | $809 | $1,451 | $2,161 |
Source: Ownwell