Highfalls, North Carolina Property Taxes
The median property tax rate in Highfalls, NC is 0.46%, 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 Highfalls at $82,945, the typical annual property tax bill amounts to $377, which is well below the national median of $2,690. Property taxes in Highfalls are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Highfalls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Highfalls 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
Highfalls, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$382
Ownwell’s Highfalls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Highfalls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Highfalls 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 Highfalls, North Carolina
Property taxes in Highfalls, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Highfalls is 0.46%, lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Highfalls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Highfalls 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 Highfalls' effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27259 zip code has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Highfalls provides valuable insights into the varying tax landscape across Moore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Highfalls Tax Rate
0.46%
Average Moore County Tax Rate
0.60%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Highfalls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27259 | 0.45% | 0.45% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Highfalls, North Carolina
In Highfalls, 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 Moore 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 Highfalls, 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 Highfalls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $377 in zip code 27259, which is also the lowest, reflecting the uniformity in property tax assessments across the area.
Property Tax Assessment Values Across Highfalls, North Carolina
Source: Ownwell
$45,070
$261,150
$477,230
Average Highfalls Assessed Value
$82,945
Average Moore County Assessed Value
$305,820
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Highfalls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27259 | $75,237 | $78,128 | $82,945 | $87,762 | $90,653 |
Source: Ownwell
Property Tax Bills Across Highfalls, North Carolina
In Highfalls, located in Moore County, NC, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor, who evaluates the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For Highfalls, the median home price stands at $82,945. Homeowners in this area can expect their tax bills to vary, with the 25th percentile at $355 and the 75th percentile at $399. The 90th percentile tax bill is slightly higher at $412. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Highfalls offers relatively affordable property taxes. Homeowners should be aware that factors like property improvements, market conditions, and changes in tax rates can influence their annual tax bill. Understanding these elements can help homeowners budget effectively and make informed decisions about their properties.
Average Highfalls Tax Bill
$377
Average Moore County Tax Bill
$1,694
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Highfalls, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27259 | $342 | $355 | $377 | $399 | $412 |
Source: Ownwell