Winston Salem, North Carolina Property Taxes
The median property tax rate in Winston Salem, NC is 0.67%, which is 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 Winston Salem at $191,120, the typical annual property tax bill is $1,269, well below the national median of $2,690. Property taxes in Winston Salem 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 Winston Salem'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 Winston Salem 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
Winston Salem, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,281
Ownwell’s Winston Salem Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winston Salem with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winston Salem 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 Winston Salem, North Carolina
Property taxes in Winston Salem, 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 Winston Salem is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Winston Salem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winston Salem 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 Winston Salem's effective property tax rate to other areas in Davidson County and the national median. For comparison, the 27107 zip code has the highest median property tax rate of 0.67%, while the 27127 zip code has the lowest median tax rate of 0.64%. Understanding how these areas compare with Winston Salem 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 Winston Salem Tax Rate
0.67%
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 Winston Salem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27107 | 0.64% | 0.64% | 0.67% | 0.69% | 0.72% |
| 27127 | 0.64% | 0.64% | 0.64% | 0.67% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Winston Salem, North Carolina
In Winston Salem, 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 Winston Salem, 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. The zip code with the highest median tax bill is 27127 at $1,339, while the lowest is 27107 at $1,221. Being aware of these valuation processes in Winston Salem helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Winston Salem, North Carolina
Source: Ownwell
$75,130
$182,330
$289,530
Average Winston Salem Assessed Value
$191,120
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 Winston Salem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27107 | $82,110 | $131,950 | $182,090 | $277,280 | $394,782 |
| 27127 | $139,874 | $168,675 | $205,880 | $270,725 | $330,252 |
Source: Ownwell
Property Tax Bills Across Winston Salem, North Carolina
In Winston-Salem, Davidson County, NC, 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 assessor, who evaluates the property's market value. Once the assessed value is established, the local tax rate is applied to this value to determine the annual property tax bill. For example, with a median home price of $191,120, homeowners can expect varying tax bills. The 25th percentile tax bill is around $950, while the 75th percentile reaches up to $1,778. The 90th percentile tax bill can be as high as $2,490. These figures reflect the range of property tax burdens across different property values and locations within the city. The highest median tax bill in Winston-Salem is $1,339 in the 27127 zip code, while the lowest is $1,221 in the 27107 zip code. Compared to the national median property tax rate of 0.99%, Winston-Salem's property taxes are relatively moderate, providing homeowners with a balanced financial obligation based on their property's value.
Average Winston Salem Tax Bill
$1,269
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 Winston Salem, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 27107 | $493 | $868 | $1,221 | $1,815 | $2,559 |
| 27127 | $916 | $1,098 | $1,339 | $1,747 | $2,262 |
Source: Ownwell