Edward, North Carolina Property Taxes
The median property tax rate in Edward, NC is 0.98%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With the median home value in Edward at $50,925, the typical annual property tax bill amounts to $505, which is significantly lower than the national median of $2,690. Property taxes in Edward are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Edward's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Edward 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
Edward, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$499
Ownwell’s Edward Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edward with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edward to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Edward, North Carolina
Property taxes in Edward, 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 Edward is 0.98%, slightly lower than the U.S. national median of 0.99%. Local government entities within Edward set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edward 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 Edward's effective property tax rate to other areas in North Carolina and the national median. For comparison, the zip code 27821 has both the highest and lowest median property tax rate of 0.98%, which is the same as Edward's rate. Understanding how these cities compare with Edward provides valuable insights into the varying tax landscape across Beaufort County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edward Tax Rate
0.98%
Average Beaufort County Tax Rate
0.92%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edward, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27821 | 0.69% | 0.87% | 0.98% | 1.13% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Edward, North Carolina
In Edward, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Beaufort 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 Edward, 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. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Edward helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Edward is found in zip code 27821, at $505.
Average Edward Assessed Value
$50,925
Average Beaufort County Assessed Value
$101,488
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edward, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27821 | $20,299 | $33,526 | $50,925 | $72,830 | $95,687 |
Source: Ownwell
Property Tax Bills Across Edward, North Carolina
In Edward, NC, property tax bills are determined based on the assessed value of your home. The assessed value is typically a percentage of the market value, which is determined by the county assessor. For instance, in Beaufort County, where Edward is located, the median home price is $50,925. Property tax bills can vary significantly, with the 25th percentile at $367 and the 75th percentile reaching $666. The 90th percentile tax bill can go up to $838, indicating a range of property values and tax rates within the area. Several factors influence your property tax bill, including the assessed value of your property, the local tax rate, and any exemptions you may qualify for. These taxes fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Edward's rates can be considered relatively moderate. For homeowners, understanding how these factors interplay can help in budgeting for annual expenses and planning for future financial needs.
Average Edward Tax Bill
$505
Average Beaufort County Tax Bill
$970
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Edward, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27821 | $259 | $367 | $505 | $666 | $838 |
Source: Ownwell