Montgomery County Property Taxes
The median property tax rate in Montgomery County is 0.64%, which is significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Montgomery County at $75,538, the typical annual property tax bill is $505, far below the national median of $2,690. Property taxes in Montgomery County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Montgomery County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Troy or another part of Montgomery County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montgomery County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$483
Ownwell’s Montgomery County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montgomery County with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Montgomery County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Montgomery County, North Carolina
Property taxes in Montgomery County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Montgomery County is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Montgomery County set these rates annually, and they can vary significantly between different areas within the county. Each year, Montgomery County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Montgomery County's effective property tax rate with other areas in North Carolina and the national median. For comparison, the city of Ellerbe has one of the higher property tax rates in North Carolina at 0.80%, while the city of Jackson Springs boasts one of the lowest at 0.61%. Analyzing how Montgomery County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Montgomery County Tax Rate
0.64%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montgomery County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Biscoe | 0.61% | 0.61% | 0.62% | 1.17% | 1.18% |
| Candor | 0.61% | 0.61% | 0.62% | 0.76% | 1.27% |
| Ellerbe | 0.65% | 0.71% | 0.80% | 0.90% | 0.95% |
| Jackson Springs | 0.61% | 0.61% | 0.61% | 0.62% | 0.62% |
| Mount Gilead | 0.61% | 0.62% | 0.65% | 0.68% | 1.18% |
| New London | 0.68% | 0.68% | 0.69% | 0.69% | 0.73% |
| Seagrove | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
| Star | 0.61% | 0.61% | 0.62% | 0.86% | 1.23% |
| Troy | 0.61% | 0.61% | 0.62% | 0.62% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Montgomery County, North Carolina
In Montgomery County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Montgomery County Appraisal District. The assessed value, however, 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 Montgomery County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the city with the highest median tax bill is Ellerbe at $10,651, while Jackson Springs has the lowest at $344. Being aware of these valuation processes in Montgomery County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Montgomery County, North Carolina
Source: Ownwell
$59,132
$95,947
$132,762
Average Montgomery County Assessed Value
$75,538
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montgomery County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Biscoe | $13,680 | $36,864 | $66,751 | $108,888 | $168,567 |
| Candor | $12,851 | $34,359 | $65,715 | $105,325 | $149,688 |
| Ellerbe | $74,364 | $96,263 | $132,762 | $1,121,940 | $1,715,447 |
| Jackson Springs | $11,930 | $38,124 | $59,132 | $79,883 | $135,981 |
| Mount Gilead | $25,330 | $35,693 | $77,620 | $191,693 | $406,662 |
| New London | $17,604 | $41,685 | $87,210 | $336,387 | $592,251 |
| Seagrove | $24,323 | $60,561 | $95,768 | $149,250 | $225,439 |
| Star | $11,208 | $32,408 | $71,440 | $119,485 | $190,489 |
| Troy | $16,816 | $43,764 | $80,893 | $145,001 | $240,583 |
Source: Ownwell
Property Tax Bills Across Montgomery County, North Carolina
In Montgomery County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $75,538, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Factors such as property location, improvements, and market conditions are considered in the assessment process. Homeowners in Montgomery County can see a wide range in their tax bills. The 25th percentile tax bill is around $248, while the 75th percentile tax bill is approximately $1,086. The 90th percentile tax bill can reach up to $2,296. Comparatively, the highest median tax bill in the region is in Ellerbe at $10,651, and the lowest is in Jackson Springs at $344. These variations significantly impact homeowners, influencing their financial planning and the affordability of owning property in the area.
Average Montgomery County Tax Bill
$505
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Montgomery County, North Carolina
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Biscoe | $116 | $269 | $545 | $925 | $1,542 |
| Candor | $81 | $205 | $451 | $801 | $1,309 |
| Ellerbe | $2,424 | $5,509 | $10,651 | $15,793 | $18,878 |
| Jackson Springs | $74 | $221 | $344 | $473 | $761 |
| Mount Gilead | $157 | $236 | $528 | $1,368 | $2,677 |
| New London | $87 | $287 | $592 | $2,254 | $4,091 |
| Seagrove | $191 | $381 | $597 | $888 | $1,416 |
| Star | $86 | $230 | $524 | $947 | $1,386 |
| Troy | $84 | $253 | $479 | $869 | $1,437 |
Source: Ownwell