Seagrove, North Carolina Property Taxes
The median property tax rate in Seagrove, NC is 0.60%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value in Seagrove of $138,310, the typical annual property tax bill amounts to $832, well below the national median of $2,690. Property taxes in Seagrove 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 Seagrove'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 Seagrove or another part of Randolph County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Seagrove, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$830
$770
Ownwell’s Seagrove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seagrove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seagrove 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 Seagrove, North Carolina
Property taxes in Seagrove, 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 Seagrove is 0.60%, which is below the U.S. national median of 0.99%. Local government entities within Seagrove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seagrove 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 Seagrove's effective property tax rate to other zip codes in North Carolina and the national median. For comparison, the 27341 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Seagrove provides valuable insights into the varying tax landscape across Randolph County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seagrove Tax Rate
0.60%
Average Randolph County Tax Rate
0.68%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seagrove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27341 | 0.49% | 0.60% | 0.60% | 0.62% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Seagrove, North Carolina
In Seagrove, 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 Randolph 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 Seagrove, 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 Seagrove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Seagrove is $832 in the 27341 zip code, while the lowest median tax bill is also $832 in the same zip code.
Property Tax Assessment Values Across Seagrove, North Carolina
Source: Ownwell
$78,165
$163,113
$248,060
Average Seagrove Assessed Value
$138,310
Average Randolph County Assessed Value
$167,245
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seagrove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27341 | $37,462 | $83,470 | $138,310 | $199,340 | $306,700 |
Source: Ownwell
Property Tax Bills Across Seagrove, North Carolina
In Seagrove, located in Randolph County, NC, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. The median home price in Seagrove is $138,310. Factors such as property location, size, and improvements are considered in the assessment. Once the property's market value is established, the tax rate is applied to calculate the annual tax bill. For homeowners in Seagrove, property tax bills can vary significantly. The 25th percentile tax bill is approximately $488, while the 75th percentile tax bill is around $1,174. Those in the 90th percentile can expect to pay up to $1,858 annually. These figures indicate how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Seagrove's tax bills reflect the local economic conditions and property values. Homeowners must consider these taxes when budgeting for their annual expenses, as they represent a significant portion of homeownership costs.
Average Seagrove Tax Bill
$832
Average Randolph County Tax Bill
$1,305
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Seagrove, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27341 | $230 | $488 | $832 | $1,174 | $1,858 |
Source: Ownwell