Efland, Orange County, North Carolina Property Taxes
The median property tax rate in Efland, NC is 1.00%, slightly higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Efland at $196,800, the typical annual property tax bill reaches $1,886, which is below the national median of $2,690. Property taxes in Efland 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 Efland'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 Efland or another part of Orange County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Efland, Orange County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,968
$1,826
Ownwell’s Efland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Efland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Efland 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 Efland, Orange County, North Carolina
Property taxes in Efland, 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 Efland is 1.00%, which is higher than the U.S. national median of 0.99%. Local government entities within Efland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Efland 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 Efland's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27243 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these areas compare with Efland provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Efland Tax Rate
1.00%
Average Orange County Tax Rate
1.31%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Efland, Orange County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27243 | 0.94% | 0.97% | 1.00% | 1.04% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Efland, Orange County, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Efland, 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 Orange 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 Efland, 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 Efland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Efland is $196,800. The median tax bill ranges from $1,168 at the 25th percentile to $2,941 at the 75th percentile, with the 90th percentile reaching $4,069. Interestingly, the zip code 27243 has both the highest and lowest median tax bill, valued at $1,886.
Property Tax Assessment Values Across Efland, Orange County, North Carolina
Source: Ownwell
$121,250
$275,000
$428,750
Average Efland Assessed Value
$196,800
Average Orange County Assessed Value
$295,700
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Efland, Orange County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27243 | $73,360 | $118,750 | $196,800 | $313,750 | $443,440 |
Source: Ownwell
Property Tax Bills Across Efland, Orange County, North Carolina
In Efland, NC, property tax bills are calculated based on the assessed value of a property, which is determined by the Orange County tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $196,800, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Several factors influence the assessed value, including the property's location, size, and market conditions. In Efland, the 25th percentile tax bill is approximately $1,168, while the 75th percentile tax bill reaches about $2,941. At the 90th percentile, homeowners might see tax bills as high as $4,069. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Understanding these components helps homeowners anticipate their financial obligations and plan accordingly. For those in the 27243 zip code, the median tax bill remains consistent at $1,886, reflecting the area's specific economic and property valuation dynamics.
Average Efland Tax Bill
$1,886
Average Orange County Tax Bill
$3,822
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Efland, Orange County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27243 | $721 | $1,168 | $1,886 | $2,941 | $4,069 |
Source: Ownwell