Candor, Montgomery County, North Carolina Property Taxes
The median property tax rate in Candor, NC is 0.62%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $65,715 in Candor, the typical annual property tax bill amounts to $451, which is well below the national median of $2,690. Property taxes in Candor are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Candor's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Candor or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Candor, Montgomery County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$407
$378
Ownwell’s Candor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Candor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Candor 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 Candor, Montgomery County, North Carolina
Property taxes in Candor, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Candor is 0.62%, lower than the U.S. national median of 0.99%. Local government entities within Candor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Candor 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 Candor's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the 27229 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these areas compare with Candor provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Candor Tax Rate
0.62%
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 Candor, Montgomery County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27229 | 0.61% | 0.61% | 0.62% | 0.76% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Candor, Montgomery County, North Carolina
In Candor, 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 Montgomery 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 Candor, 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 Candor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Candor, the highest and lowest median tax bills are both $451.00, found in zip code 27229.
Property Tax Assessment Values Across Candor, Montgomery County, North Carolina
Source: Ownwell
$59,132
$77,450
$95,768
Average Candor Assessed Value
$65,715
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 Candor, Montgomery County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27229 | $12,851 | $34,359 | $65,715 | $105,325 | $149,688 |
Source: Ownwell
Property Tax Bills Across Candor, Montgomery County, North Carolina
In Candor, Montgomery County, NC, property tax bills are calculated based on the assessed value of a home. The process begins with the county assessing the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Candor, the median home price is $65,715. Several factors influence the final tax bill, including property location, size, and any applicable exemptions. The tax bill can vary significantly, with the 25th percentile at $205 and the 75th percentile reaching $801. At the 90th percentile, homeowners might pay as much as $1,309 annually. These property taxes impact homeowners by contributing to local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Candor's property taxes reflect the unique economic and market conditions of the area. This can affect affordability and the overall cost of homeownership in the region.
Average Candor Tax Bill
$451
Average Montgomery County Tax Bill
$505
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Candor, Montgomery County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27229 | $81 | $205 | $451 | $801 | $1,309 |
Source: Ownwell