Siloam, Surry County, North Carolina Property Taxes

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

Median Siloam, NC effective property tax rate: 0.67%, significantly lower than the national median of 1.02%, and lower than the North Carolina state median of 0.81%.
Median Siloam, NC home value: $130,485
Median annual Siloam, NC tax bill: $812, $1,588 lower than the national median property tax bill of $2,400.

How are property taxes in Surry calculated?

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

Last Updated March 1, 2025

Siloam, Surry County, North Carolina Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.67%

Estimate Property Tax Bill

$874

$811

Ownwell’s Siloam Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Siloam with just two data points. By entering your property's estimated assessed value, our calculator applies Siloam’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 Siloam, Surry County, North Carolina

Local government entities set property tax rates, which can vary widely within North Carolina. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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.

In Siloam, located in Surry County, the effective property tax rate stands at 0.67%. This rate is lower than the national median property tax rate of 1.02%. When comparing Siloam’s rate to other cities in North Carolina, it remains consistent with the state’s median, highlighting a relatively mild tax burden for residents. This lower rate can be advantageous for property owners, providing a more affordable living environment compared to the national average.

Understanding these rates can help property owners in Siloam make informed decisions about their investments. With lower property tax rates, the area becomes attractive for those looking to maximize their property value while minimizing expenses.

Property Tax Rates Across Siloam, 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 Siloam Tax Rate

0.67%

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 Siloam, Surry County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
27047	0.40%	0.64%	0.67%	0.69%	0.72%

Source: Ownwell

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

When examining property taxes in Siloam, 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 Surry 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. This 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 and 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. The median home price in Siloam is $130,485, with tax bills ranging significantly across the county. Zip code 27047 has the highest median home price at $130,485.

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

Source: Ownwell

$73,950

$120,985

$168,020

Median Siloam Market Value

$130,485

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 Siloam, Surry County, North Carolina

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
27047	$53,111	$82,795	$130,485	$205,368	$322,824

Source: Ownwell

Property Tax Bills Across Siloam, Surry County, North Carolina

In Siloam, property tax bills are calculated based on the assessed value of a home, which is determined by the Surry County Tax Assessor. The median home price in the area stands at $130,485. Homeowners can expect tax bills ranging from $534 at the 25th percentile to $1,809 at the 90th percentile. The median tax bill is $812, which is significantly lower than 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. These taxes fund essential services such as schools, roads, and public safety, impacting the community's overall quality of life. Ownwell can assist homeowners in Siloam by reviewing their property assessments and identifying potential savings. By appealing incorrect assessments or applying for exemptions, Ownwell helps reduce the financial burden of property taxes, allowing homeowners to save money and invest it elsewhere.

Property Tax Bills Across Siloam, Surry County, North Carolina

Source: Ownwell

$550

$793

$1,035

Median Siloam Tax Bill

$812

Median Surry County Tax Bill

$778

Median North Carolina Tax Bill

$1,813

Median United States Tax Bill

$2,400

Property Tax Bills Across Siloam, Surry County, North Carolina

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
27047	$351	$534	$812	$1,228	$1,809

Source: Ownwell