27047 Property Tax Rate

Property owners in ZIP code 27047 (Siloam, North Carolina) pay a median of $1,185/year in property taxes on homes valued at $192,400. This translates to an effective tax rate of 0.62%, which is 14% below the North Carolina state average of 0.71%.

The monthly property tax burden for a median-valued home in 27047 is approximately $99, which factors into escrow payments on mortgages. This ZIP code is located within Surry County. This is $406 less than the North Carolina average of $1,591/year.

Compared to similar ZIP codes in North Carolina, 27047 has higher property taxes. ZIP codes with similar effective rates include 28135 (0.62%) and 28006 (0.61%).

In Siloam, property taxes represent approximately 1.5% of the median household income of $79,702, providing context for the relative tax burden on homeowners in this area.

North Carolina reassesses property at market value upon sale — Surry County will set your assessed value based on fair market appraisal with no annual increase cap for homeowners. Surry County provides homestead and veteran exemptions reducing taxable value; file your claim with the Surry County Tax Assessor within 30 days of closing to capture tax relief on your first bill. Request written confirmation of your exemption amount and effective date, and note that Surry County conducts revaluations periodically — file again if required.