Edenton, North Carolina Property Taxes
The median property tax rate in Edenton, NC is 0.74%, which is notably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $148,069 in Edenton, the typical annual property tax bill amounts to $1,148, falling below the national median of $2,690. Property taxes in Edenton are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Edenton'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 Edenton or another part of Chowan County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Edenton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,096
Ownwell’s Edenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edenton 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 Edenton, North Carolina
Property taxes in Edenton, 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 Edenton is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Edenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edenton 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 Edenton's effective property tax rate to other counties in North Carolina and the national median. For comparison, the zip code 27932 has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Edenton provides valuable insights into the varying tax landscape across Chowan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edenton Tax Rate
0.74%
Average Chowan County Tax Rate
0.74%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27932 | 0.55% | 0.73% | 0.74% | 1.09% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Edenton, North Carolina
In Edenton, 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 Chowan 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 Edenton, 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. The median home price in Edenton is $148,069, with tax bills ranging from $701 at the 25th percentile to $3,270 at the 90th percentile. The highest and lowest median tax bills are both $1,148 in the 27932 zip code. 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 Edenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Edenton, North Carolina
Source: Ownwell
$139,402
$182,627
$225,852
Average Edenton Assessed Value
$148,069
Average Chowan County Assessed Value
$147,626
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27932 | $59,999 | $92,622 | $148,069 | $251,661 | $388,578 |
Source: Ownwell
Property Tax Bills Across Edenton, North Carolina
In Edenton, located in Chowan County, NC, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and reflects the property's market value. Once the assessed value is established, local tax rates are applied to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. For example, the median home price in Edenton is $148,069, which serves as a baseline for many homeowners. The property tax rate in this region is relatively moderate compared to the national median property tax rate of 0.99%. Homeowners in Edenton can expect tax bills to vary significantly. For instance, those in the 25th percentile might pay around $701, while those in the 75th percentile could see bills as high as $2,050. At the 90th percentile, tax bills can reach up to $3,270. These variations can significantly impact household budgets, making it essential for homeowners to understand their property assessments and potential tax liabilities.
Average Edenton Tax Bill
$1,148
Average Chowan County Tax Bill
$1,115
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Edenton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27932 | $428 | $701 | $1,148 | $2,050 | $3,270 |
Source: Ownwell