New Hill, Wake County, North Carolina Property Taxes
Median New Hill, NC effective property tax rate: 1.10%, significantly higher than the national median of 1.02%, but lower than the NC state median of 0.82%. Median New Hill, NC home value: $425,317. Median annual New Hill, NC tax bill: $4,525, $2,125 higher than the national median property tax bill of $2,400.
How are property taxes in Wake County calculated?
Property taxes in New Hill, 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 New Hill’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Hill, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Hill, Wake County, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.86%
Estimate Property Tax Bill
$5,664
$5,256
Property Tax Rates Across New Hill, Wake County, North Carolina
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 New Hill Tax Rate
0.86%
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 Wake County Tax Rate
0.87%
Median Effective North Carolina Tax Rate
0.81%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Hill, Wake County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27562 | 0.62% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across New Hill, Wake County, North Carolina
When examining property taxes in New Hill, NC, 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 trends. Wake County 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 Wake 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 New Hill.
For example, the median home price in New Hill is $425,317, with tax bills ranging significantly across the county. The zip code 27562 has the highest median home price at $425,317.
Property Tax Assessment Values Across New Hill, Wake County, North Carolina
Source: Ownwell
$290,436
$598,949
$907,461
Median New Hill Market Value
$658,639
Median Wake County Market Value
$454,641
Median North Carolina Market Value
$221,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Hill, Wake County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27562 | $423,553 | $553,139 | $658,639 | $735,167 | $1,057,395 |
Source: Ownwell
Property Tax Bills Across New Hill, Wake County, North Carolina
In New Hill, property tax bills are determined by assessing the property's market value and applying the local tax rate. With a median home price of $425,317, homeowners in Wake County often face tax bills that range between $3,580 at the 25th percentile to $5,097 at the 75th percentile. The median tax bill in the area is $4,525, which is significantly higher than the national median of $2,400. This discrepancy highlights the substantial financial impact on homeowners in New Hill.
Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. High property taxes can be burdensome, but Ownwell offers a solution. By providing property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax liabilities. Through professional assessment and representation, Ownwell aims to ensure that homeowners are not overpaying, allowing them to save significantly on their annual property tax bills.
Median New Hill Tax Bill
$5,466
Median Wake County Tax Bill
$3,792
Median North Carolina Tax Bill
$1,813
Median United States Tax Bill
$2,400
Property Tax Bills Across New Hill, Wake County, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27562 | $2,578 | $4,272 | $5,466 | $6,097 | $8,404 |
Source: Ownwell