Hobgood, Martin County, North Carolina Property Taxes

Name: Property Tax Bills Across Hobgood, Martin County, North Carolina
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Hobgood, NC effective property tax rate: 1.24%, significantly higher than the national median of 1.02%, but lower than the North Carolina state median of 0.82%.
Median Hobgood, NC home value: $53,600
Median annual Hobgood, NC tax bill: $667, $1,733 lower than the national median property tax bill of $2,400.

How are property taxes in Martin calculated?

Property taxes in Hobgood, 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 Hobgood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hobgood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Hobgood, Martin County, North Carolina Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.11%

Estimate Property Tax Bill

$666

$618

Ownwell’s Hobgood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hobgood with just two data points. By entering your property's estimated assessed value, our calculator applies Hobgood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value, determined by your county, reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Martin County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hobgood, Martin County, North Carolina

Local government entities set tax rates, which can vary widely within a state. Annually, each county 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, in a nutshell, this is the annual process.

Hobgood in Martin County, NC, boasts a property tax rate that stands out when compared to other cities in North Carolina and the national median. With Martin County's median tax rate at 1.24%, it exceeds the national median property tax rate of 1.02%. This difference highlights the variability in property tax rates not only within North Carolina but also across the United States. Despite the higher tax rate in Martin County, residents benefit from the local services funded by these taxes. Understanding these nuances can help property owners make informed decisions and potentially explore property tax appeal and exemption services.

Property Tax Rates Across Hobgood, Martin County, North Carolina

Source: Ownwell

1.03%

1.43%

1.83%

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 Hobgood Tax Rate

1.11%

Median Effective Martin County Tax Rate

1.14%

Median Effective North Carolina Tax Rate

0.81%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hobgood, Martin County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
27843	0.70%	0.89%	1.11%	1.25%	1.36%

Source: Ownwell

Property Tax Assessment Values Across Hobgood, Martin County, North Carolina

When examining property taxes in Hobgood, 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 market trends. The Martin 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 Martin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Hobgood. For example, the median home price in Hobgood is $53,600, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Hobgood, Martin County, North Carolina

Source: Ownwell

$39,060

$60,710

$82,360

Median Hobgood Market Value

$60,015

Median Martin County Market Value

$68,420

Median North Carolina Market Value

$221,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hobgood, Martin County, North Carolina

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
27843	$30,993	$44,460	$60,015	$108,400	$203,423

Source: Ownwell

Property Tax Bills Across Hobgood, Martin County, North Carolina

In Hobgood, located in Martin County, NC, property tax bills are determined by applying the local tax rate to the assessed value of a property. The median home price in Hobgood is $53,600, and the property tax bill for homes in the 25th percentile is around $654, while those in the 75th percentile pay approximately $751. For homes in the 90th percentile, the tax bill can reach up to $801. These figures are notably higher than the national median property tax bill of $2,400, reflecting the local tax rate's impact on homeowners. The assessed value, which is determined by the county, plays a crucial role in calculating the final tax bill. Factors such as property size, location, and improvements can influence this assessed value. Homeowners in Hobgood can benefit from appealing their property tax assessments with Ownwell's expertise. By leveraging local knowledge and tax law expertise, Ownwell can help identify potential savings, ensuring homeowners do not overpay on their property taxes.

Property Tax Bills Across Hobgood, Martin County, North Carolina

Source: Ownwell

$536

$731

$925

Median Hobgood Tax Bill

$706

Median Martin County Tax Bill

$800

Median North Carolina Tax Bill

$1,813

Median United States Tax Bill

$2,400

Property Tax Bills Across Hobgood, Martin County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
27843	$418	$571	$706	$1,055	$1,568

Source: Ownwell