Ellerbe, North Carolina Property Taxes
The median property tax rate in Ellerbe, NC is 1.03%, slightly higher than the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $64,451 in Ellerbe, the typical annual property tax bill amounts to $659, which is considerably lower than the national median of $2,690. Property taxes in Ellerbe are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Ellerbe'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 Ellerbe or another part of Richmond County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellerbe, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$664
Ownwell’s Ellerbe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellerbe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellerbe 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 Ellerbe, North Carolina
Property taxes in Ellerbe, 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 Ellerbe is 1.03%, which is higher than the U.S. national median of 0.99%. Local government entities within Ellerbe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellerbe 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 Ellerbe's effective property tax rate to other areas in Richmond County and the national median. For comparison, the 28338 zip code has the highest and lowest median property tax rate of 1.03%. Understanding how these figures compare with Ellerbe 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 Ellerbe Tax Rate
1.03%
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 Ellerbe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28338 | 0.64% | 0.91% | 1.03% | 1.20% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Ellerbe, North Carolina
In Ellerbe, 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. 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. In Ellerbe, the median home price is $64,451, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $390, while the 75th percentile tax bill is $1,037. The highest median tax bill, at $659, is found in the 28338 zip code, which also has the lowest median tax bill of $659. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ellerbe Assessed Value
$64,451
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 Ellerbe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28338 | $9,753 | $32,942 | $64,451 | $108,440 | $168,997 |
Source: Ownwell
Property Tax Bills Across Ellerbe, North Carolina
In Ellerbe, Richmond County, NC, property tax bills are determined by multiplying the assessed value of a home by the local property tax rate. The assessed value is typically a percentage of the home's market value, determined by the county assessor. For instance, if the median home price is $64,451, the assessed value would be a proportion of that amount. The property tax rate in Ellerbe is then applied to this assessed value to calculate the tax bill. Several factors influence the final tax bill, including the home's location, size, and any applicable exemptions. The tax bill in Ellerbe can vary significantly, with the 25th percentile at $390 and the 75th percentile at $1,037. The 90th percentile tax bill reaches up to $1,560, indicating a wide range of property values and corresponding tax amounts. For homeowners, this means that while some may face relatively low tax bills, others with higher-valued properties could see more substantial amounts. This variability can impact affordability and financial planning for residents.
Average Ellerbe Tax Bill
$659
Average Richmond County Tax Bill
$644
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellerbe, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28338 | $126 | $390 | $659 | $1,037 | $1,560 |
Source: Ownwell