Lowgap, Surry County, North Carolina Property Taxes

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

Median LOWGAP, NC effective property tax rate: 0.69%, significantly lower than the national median of 1.02%, and lower than the North Carolina state median of 0.81%.
Median LOWGAP, NC home value: $100,825
Median annual LOWGAP, NC tax bill: $648, $1,752 lower than the national median property tax bill of $2,400.

How are property taxes in Surry calculated?

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

Last Updated March 1, 2025

Lowgap, Surry County, North Carolina Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.69%

Estimate Property Tax Bill

$696

$646

Ownwell’s LOWGAP Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in LOWGAP with just two data points. By entering your property's estimated assessed value, our calculator applies LOWGAP’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 Surry County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lowgap, Surry County, North Carolina

Local government entities determine property tax rates, which can differ significantly within a state. Each year, counties calculate their necessary budget to fund services and then divide this budget by the total assessed value of all taxable property within their boundaries. This process establishes the property tax rate. Although setting tax rates and budgets involves votes and legislation, this is the fundamental annual procedure.

For instance, Lowgap in Surry County, North Carolina, has its own effective property tax rate, which you can compare to other cities within the state. The median property tax rate in North Carolina is below the national median of 1.02%. This comparison highlights how Lowgap’s rate aligns with or deviates from state and national trends. Understanding these differences is crucial for property owners seeking to optimize their tax liabilities. By evaluating how Lowgap's property tax rate compares locally and nationally, property owners can make informed decisions about potential tax appeals or exemptions. Whether you are a resident or considering investing in the area, being aware of these rates can significantly impact your financial planning and property-related decisions.

Property Tax Rates Across Lowgap, Surry County, North Carolina

Source: Ownwell

0.63%

0.69%

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 Lowgap Tax Rate

0.69%

Median Effective Surry County Tax Rate

0.69%

Median Effective North Carolina Tax Rate

0.81%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lowgap, Surry County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
27024	0.44%	0.67%	0.69%	0.73%	0.80%

Source: Ownwell

Property Tax Assessment Values Across Lowgap, Surry County, North Carolina

When examining property taxes in Lowgap, 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 Surry County Tax Assessor's Office 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 Surry 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 Lowgap. For example, the median home price in Lowgap is $100,825, with tax bills ranging significantly across the county. Zip code 27024 has the highest median home price at $100,825.

Property Tax Assessment Values Across Lowgap, Surry County, North Carolina

Source: Ownwell

$73,950

$120,985

$168,020

Median Lowgap Market Value

$100,825

Median Surry County Market Value

$116,885

Median North Carolina Market Value

$221,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lowgap, Surry County, North Carolina

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
27024	$36,515	$63,068	$100,825	$174,245	$265,319

Source: Ownwell

Property Tax Bills Across Lowgap, Surry County, North Carolina

In Lowgap, located in Surry County, NC, property tax bills are calculated based on the assessed value of a home, which is derived from the local government's valuation of the property. The median home price in this area is $100,825, which is significantly lower than the national median. Homeowners in Lowgap typically face a property tax bill around $648, which is also below the national median property tax bill of $2,400. Factors influencing the tax bill include the property’s assessed value and the local tax rate. For homeowners in Lowgap, this means a relatively lower financial burden compared to other regions. However, even with lower tax bills, ensuring that you are not overpaying is crucial. This is where Ownwell steps in, offering property tax appeal and exemption services that can help homeowners reduce their tax liabilities. By reviewing assessments and identifying discrepancies, Ownwell ensures that homeowners pay only their fair share, potentially saving them hundreds of dollars annually.

Property Tax Bills Across Lowgap, Surry County, North Carolina

Source: Ownwell

$550

$793

$1,035

Median Lowgap Tax Bill

$648

Median Surry County Tax Bill

$778

Median North Carolina Tax Bill

$1,813

Median United States Tax Bill

$2,400

Property Tax Bills Across Lowgap, Surry County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
27024	$263	$422	$648	$1,085	$1,568

Source: Ownwell