Hoffman, Richmond County, North Carolina Property Taxes
Median Hoffman, NC effective property tax rate: 1.05%, slightly higher than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median Hoffman, NC home value: $44,434
Median annual Hoffman, NC tax bill: $543, $1,857 lower than the national median property tax bill of $2,400.
How are property taxes in Richmond calculated?
Property taxes in Hoffman, 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 Hoffman’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hoffman, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hoffman, Richmond County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.89%
Estimate Property Tax Bill
$639
$593
Property Tax Rates Across Hoffman, Richmond County, North Carolina
Local government entities determine tax rates, which can vary significantly within a state due to differing budgetary needs. Each county annually estimates the necessary budget to provide services and divides this by the total value of all taxable property in its jurisdiction, resulting in the property tax rate. This process, while involving votes and laws, is essentially how tax rates are set each year.
In Hoffman, located in Richmond County, North Carolina, the effective property tax rate is 1.05%. This rate is the same as the state's median property tax rate and slightly above the national median rate of 1.02%. Comparatively, Hoffman's rate aligns with the highest and lowest rates in the state, both also at 1.05%. This uniformity within the region suggests a consistent approach to property tax assessments.
Understanding these rates in the context of state and national medians can provide insight into how local property taxes might impact homeowners in Hoffman. By evaluating these rates, property owners can better anticipate their tax obligations and make informed decisions regarding property investments.
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 Hoffman Tax Rate
0.89%
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 Richmond County Tax Rate
0.91%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hoffman, Richmond County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28347 | 0.75% | 0.75% | 0.89% | 1.06% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Hoffman, Richmond County, North Carolina
When examining property taxes in Hoffman, 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 Richmond 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 Richmond 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 Hoffman.
For example, the median home price in Hoffman is $44,434, with tax bills ranging significantly across the county. Zip code 28347 has the highest median home price at $44,434.
Property Tax Assessment Values Across Hoffman, Richmond County, North Carolina
Source: Ownwell
$42,682
$89,714
$136,746
Median Hoffman Market Value
$71,822
Median Richmond County Market Value
$89,022
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hoffman, Richmond County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28347 | $12,150 | $18,002 | $71,822 | $112,439 | $183,811 |
Source: Ownwell
Property Tax Bills Across Hoffman, Richmond County, North Carolina
Median Hoffman Tax Bill
$688
Median Richmond County Tax Bill
$813
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across Hoffman, Richmond County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28347 | $108 | $269 | $688 | $998 | $1,592 |
Source: Ownwell