Bullock, Granville County, North Carolina Property Taxes
Median Bullock, NC effective property tax rate: 0.97%, slightly lower than the national median of 1.02%, but higher than the North Carolina state median of 0.82%.
Median Bullock, NC home value: $107,584
Median annual Bullock, NC tax bill: $978, $1,422 lower than the national median property tax bill of $2,400.
How are property taxes in Granville calculated?
Property taxes in Bullock, NC are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Bullock’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bullock, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bullock, Granville County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.74%
Estimate Property Tax Bill
$1,346
$1,249
Property Tax Rates Across Bullock, Granville County, North Carolina
Local government entities set property tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Bullock, located in Granville County, North Carolina, the effective property tax rate stands at 0.97%. This rate is slightly below the national median property tax rate of 1.02%. When comparing Bullock's rate to other cities in North Carolina, it aligns with the state median. However, it's noteworthy that within Granville County, the property tax rate remains consistent, showing no variation between the highest and lowest tax rates in the area. This stability can be advantageous for property owners seeking predictable tax obligations. Understanding these rates can help residents make informed decisions about property investments and budgeting for annual tax expenses.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Bullock Tax Rate
0.74%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Granville County Tax Rate
0.76%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bullock, Granville County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27507 | 0.44% | 0.71% | 0.74% | 0.79% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Bullock, Granville County, North Carolina
When examining property taxes in Bullock, North Carolina, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Granville County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Granville County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Bullock. For example, the median home price in Bullock is $107,584, with tax bills ranging significantly across the county. Zip code 27507 has the highest median home price at $107,584.
Property Tax Assessment Values Across Bullock, Granville County, North Carolina
Source: Ownwell
$95,029
$310,695
$526,360
Median Bullock Market Value
$181,954
Median Granville County Market Value
$239,053
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bullock, Granville County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27507 | $68,632 | $110,774 | $181,954 | $320,907 | $474,091 |
Source: Ownwell
Property Tax Bills Across Bullock, Granville County, North Carolina
Median Bullock Tax Bill
$1,231
Median Granville County Tax Bill
$1,974
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Bullock, Granville County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27507 | $544 | $818 | $1,231 | $2,066 | $3,023 |
Source: Ownwell