Candor, North Carolina Property Taxes
The median property tax rate in Candor, NC is 1.09%, 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 Candor, the typical annual property tax bill reaches $489, which is significantly lower than the national median of $2,690. Property taxes in Candor are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Candor'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 Candor 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
Candor, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.09%
Estimate Property Tax Bill
$518
$481
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, North Carolina
Property taxes in Candor, North Carolina, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Candor is 1.09%, higher than both the North Carolina state median and 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 counties in North Carolina and the national median. For comparison, the 27229 ZIP code has both the highest and lowest median property tax rate of 1.09%. Understanding how these areas compare with Candor provides valuable insights into the varying tax landscape across Richmond County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Candor Tax Rate
1.09%
Average Richmond County Tax Rate
1.05%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Candor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27229 | 0.60% | 0.93% | 1.09% | 1.35% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Candor, 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 Richmond 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. The median home price in Candor is $47,509, with median tax bills ranging from $326 at the 25th percentile to $1,381 at the 90th percentile. The zip code with the highest and lowest median tax bill is 27229, both at $489.
Average Candor Assessed Value
$47,509
Average Richmond County Assessed Value
$60,261
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Candor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27229 | $8,463 | $23,350 | $47,509 | $79,984 | $130,634 |
Source: Ownwell
Property Tax Bills Across Candor, North Carolina
In Candor, located in Richmond County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the county tax assessor. The assessed value is then multiplied by the local property tax rate to arrive at the annual tax bill. For Candor, the median home price is $47,509. Homeowners can expect tax bills to vary depending on their property's assessed value and the applicable tax rate. The tax bill in Candor can range significantly. At the 25th percentile, homeowners might pay around $326 annually, while those at the 75th percentile could see bills closer to $774. For properties at the 90th percentile, tax bills can reach up to $1,381. The highest and lowest median tax bills in the area are both $489, indicating a relatively uniform tax rate across different neighborhoods. These property taxes are essential for funding local services and infrastructure, impacting homeowners by contributing to community development and public resources.
Average Candor Tax Bill
$489
Average Richmond County Tax Bill
$644
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Candor, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27229 | $94 | $326 | $489 | $774 | $1,381 |
Source: Ownwell