Linwood, North Carolina Property Taxes
The median property tax rate in Linwood, NC is 0.63%, considerably lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Linwood, the typical annual property tax bill reaches $696, significantly below the national median of $2,690. Property taxes in Linwood are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Linwood'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 Linwood 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
Linwood, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$733
Ownwell’s Linwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linwood 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 Linwood, North Carolina
Property taxes in Linwood, North Carolina, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Linwood is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Linwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linwood 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 Linwood's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 27299 zip code has the highest median property tax rate of 0.63%, while the 27299 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Linwood provides valuable insights into the varying tax landscape across Davidson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Linwood Tax Rate
0.63%
Average Davidson County Tax Rate
0.65%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Linwood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27299 | 0.62% | 0.62% | 0.63% | 0.63% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Linwood, North Carolina
In Linwood, 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 Davidson 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 Linwood, 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 Linwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 27299 has the highest and lowest median tax bill at $696.
Average Linwood Assessed Value
$116,290
Average Davidson County Assessed Value
$147,820
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Linwood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27299 | $40,852 | $78,645 | $116,290 | $175,260 | $235,152 |
Source: Ownwell
Property Tax Bills Across Linwood, North Carolina
Property tax bills in Linwood, NC, within Davidson County, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's property assessor and is intended to reflect the market value of the home. For instance, with a median home price of $116,290, the tax bill can vary significantly. Homeowners in the 25th percentile of tax bills pay around $474, while those in the 75th percentile face bills of approximately $1083. The highest tax bills, reaching the 90th percentile, can go up to $1421. These tax bills impact homeowners by influencing their annual expenses, which can affect their overall financial planning and housing affordability. Compared to the national median property tax rate of 0.99%, Linwood's property tax rates are relatively modest, offering some relief to homeowners. However, the variation in tax bills highlights the importance of understanding how assessed values and local tax rates can affect individual financial obligations.
Average Linwood Tax Bill
$696
Average Davidson County Tax Bill
$1,125
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Linwood, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27299 | $243 | $474 | $696 | $1,083 | $1,421 |
Source: Ownwell