Somerville, North Carolina Property Taxes
The median property tax rate in Somerville, NC is 0.92%, slightly lower than the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $62,700 in Somerville, the typical annual property tax bill amounts to $577, which is significantly below the national median of $2,690. Property taxes in Somerville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Somerville'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 Somerville or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Somerville, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$577
$535
Ownwell’s Somerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Somerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Somerville 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 Somerville, North Carolina
Property taxes in Somerville, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Somerville is 1.05%, higher than both the North Carolina state median of 0.84% and the U.S. national median of 0.99%. Local government entities within Somerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Somerville 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 Somerville's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28384 zip code has the highest median property tax rate of 1.05%, while the 28384 zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Somerville provides valuable insights into the varying tax landscape across Robeson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Somerville Tax Rate
0.92%
Average Robeson County Tax Rate
0.87%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somerville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08876 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Somerville, North Carolina
In Somerville, 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 Robeson 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 Somerville, 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 Somerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 08876 has the highest and lowest median tax bill at $577, which is significantly below the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Somerville, North Carolina
Source: Ownwell
$59,500
$102,600
$145,700
Average Somerville Assessed Value
$62,700
Average Robeson County Assessed Value
$69,800
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Somerville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08876 | $62,700 | $62,700 | $62,700 | $62,700 | $62,700 |
Source: Ownwell
Property Tax Bills Across Somerville, North Carolina
In Somerville, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's property assessor, who evaluates the market value of the property. In Robeson County, where Somerville is located, the median home price is $62,700. The tax rate is applied to this assessed value to determine the annual property tax bill. For example, with a median tax bill of $577, homeowners in this area can expect their property tax to be relatively consistent, as both the 25th and 75th percentiles also reflect a tax bill of $577. This uniformity suggests a stable tax environment, which can be beneficial for long-term financial planning. Compared to the national median property tax rate of 0.99%, Somerville's property tax rate offers a predictable expense for homeowners. Understanding these factors helps homeowners anticipate their annual financial obligations and budget accordingly.
Average Somerville Tax Bill
$577
Average Robeson County Tax Bill
$623
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Somerville, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08876 | $577 | $577 | $577 | $577 | $577 |
Source: Ownwell