Semora, Person County, North Carolina Property Taxes
The median property tax rate in Semora, NC is 0.78%, which is lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Semora at $374,565, the typical annual property tax bill reaches $2,792, slightly above the national median of $2,690. Property taxes in Semora are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Semora'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 Semora or another part of Person County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Semora, Person County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$2,922
$2,711
Ownwell’s Semora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Semora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Semora 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 Semora, Person County, North Carolina
Property taxes in Semora, North Carolina, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Semora is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within Semora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Semora 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 Semora's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27343 has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Semora provides valuable insights into the varying tax landscape across Person County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Semora Tax Rate
0.78%
Average Person County Tax Rate
0.78%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Semora, Person County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27343 | 0.74% | 0.77% | 0.78% | 0.80% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Semora, Person County, North Carolina
In Semora, 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 Person 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 Semora, 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 Semora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27343 has the highest median tax bill of $2,792, highlighting the importance of staying informed about property tax assessments.
Property Tax Assessment Values Across Semora, Person County, North Carolina
Source: Ownwell
$94,660
$234,613
$374,565
Average Semora Assessed Value
$374,565
Average Person County Assessed Value
$122,004
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Semora, Person County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27343 | $71,892 | $129,296 | $374,565 | $563,178 | $795,175 |
Source: Ownwell
Property Tax Bills Across Semora, Person County, North Carolina
In Semora, located in Person County, NC, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county’s property assessor and is meant to reflect the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including the property's size, location, and any improvements made. For example, the median home price in Semora is $374,565. Homeowners in this area can expect tax bills that vary widely: the 25th percentile tax bill is around $860, while the 75th percentile reaches up to $4,372, and the 90th percentile can be as high as $6,314. These property tax rates and the resulting bills can significantly impact homeowners by affecting their overall housing costs. Compared to the national median property tax rate of 0.99%, the rates in Semora reflect the local economic conditions and funding needs for public services.
Average Semora Tax Bill
$2,792
Average Person County Tax Bill
$1,008
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Semora, Person County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27343 | $500 | $860 | $2,792 | $4,372 | $6,314 |
Source: Ownwell