Lenoir, North Carolina Property Taxes
The median property tax rate in Lenoir, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Lenoir at $48,000, the typical annual property tax bill amounts to just $192, which is well below the national median of $2,690. Property taxes in Lenoir are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lenoir's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lenoir or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lenoir, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$192
Ownwell’s Lenoir Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Lenoir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenoir to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value, assigned by the county for property tax calculations, accounts for any applicable exemptions, ensuring an accurate estimate.
Property Tax Rates Across Lenoir, North Carolina
Property taxes in Lenoir, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenoir is 0.65%, which is lower than both the North Carolina state median of 0.79% and the U.S. national median of 0.99%. Local government entities within Lenoir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenoir estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lenoir's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28601 zip code has the highest median property tax rate of 0.79%, while the 28645 zip code has the lowest median tax rate of 0.40%. Understanding how these cities compare with Lenoir provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenoir Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Lenoir, North Carolina
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lenoir, North Carolina. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Avery County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lenoir, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For instance, the median home price in Lenoir is $48,000, with tax bills ranging from $78 at the 25th percentile to $1,040 at the 90th percentile. Notably, the highest and lowest median tax bills in the area are both $192, specifically in the 28645 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lenoir, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Lenoir Assessed Value
$48,000
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | $6,760 | $19,550 | $48,000 | $113,850 | $260,060 |
Source: Ownwell
Property Tax Bills Across Lenoir, North Carolina
In Lenoir, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property appraiser and reflects the market value of the property. Homeowners in Lenoir can expect varying tax bills depending on their home's value. For instance, the median home price in Lenoir is $48,000. The property tax rate in Lenoir is influenced by the local government's budgetary needs and is applied to the assessed value of the home. Homeowners in the 25th percentile pay around $78, while those in the 75th percentile pay about $455. For homes in the 90th percentile, the tax bill can go up to $1,040. This range indicates a significant variance in property tax burdens, which can impact homeowners differently based on their property's value. Compared to the national median property tax rate of 0.99%, Lenoir's tax bills reflect the local economic conditions and funding requirements.
Average Lenoir Tax Bill
$192
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenoir, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28645 | $27 | $78 | $192 | $455 | $1,040 |
Source: Ownwell