Vanceboro, North Carolina Property Taxes
The median property tax rate in Vanceboro, NC is 0.93%, slightly below the national median of 0.99% but higher than the North Carolina state median of 0.82%. With a median home value of $69,188 in Vanceboro, the typical annual property tax bill is $634, which is significantly lower than the national median of $2,690. Property taxes in Vanceboro are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Vanceboro'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 Vanceboro 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
Vanceboro, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$643
Ownwell’s Vanceboro Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Vanceboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vanceboro to provide an estimate of 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 Vanceboro, North Carolina
Property taxes in Vanceboro, NC, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vanceboro is 0.93%, which is lower than the U.S. national median of 0.99%. Local government entities within Vanceboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vanceboro 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 Vanceboro's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28586 zip code has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Vanceboro 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 Vanceboro Tax Rate
0.93%
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 Vanceboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28586 | 0.72% | 0.84% | 0.93% | 1.03% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Vanceboro, North Carolina
In Vanceboro, 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 Vanceboro, 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 Vanceboro stands at $69,188, with property tax bills ranging from $449 at the 25th percentile to $1,147 at the 90th percentile. The zip code 28586 has the highest and lowest median tax bill at $634. 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 Vanceboro, North Carolina
Source: Ownwell
$50,925
$132,433
$213,941
Average Vanceboro Assessed Value
$69,188
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 Vanceboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28586 | $26,898 | $41,769 | $69,188 | $100,322 | $137,006 |
Source: Ownwell
Property Tax Bills Across Vanceboro, North Carolina
In Vanceboro, located in Beaufort County, NC, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $69,188. To determine the tax bill, the assessed value is multiplied by the local tax rate. The median property tax rate in the U.S. is 0.99%, but local rates can vary. For Vanceboro, the median tax bill stands at $634, which is derived from the assessed home values and local tax rates. Various factors influence the tax bill, including property size, location, and market conditions. Homeowners in Vanceboro can expect tax bills ranging from $449 at the 25th percentile to $880 at the 75th percentile, with the 90th percentile reaching $1,147. These taxes fund essential community services such as schools, infrastructure, and emergency services. Understanding these factors helps homeowners budget effectively and ensures they are prepared for their annual tax obligations.
Average Vanceboro Tax Bill
$634
Average Beaufort County Tax Bill
$970
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Vanceboro, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28586 | $303 | $449 | $634 | $880 | $1,147 |
Source: Ownwell