Calypso, North Carolina Property Taxes
The median property tax rate in Calypso, NC is 1.21%, considerably higher than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Calypso at $77,200, the typical annual property tax bill reaches $921, which is below the national median of $2,690. Property taxes in Calypso 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 Calypso'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 Calypso 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
Calypso, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$934
Ownwell’s Calypso Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calypso with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calypso 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 Calypso, North Carolina
Property taxes in Calypso, North Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calypso is 1.21%, higher than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Calypso set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calypso 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 Calypso's effective property tax rate to other counties in North Carolina and the national median. For comparison, the 28325 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with Calypso provides valuable insights into the varying tax landscape across Duplin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calypso Tax Rate
1.21%
Average Duplin County Tax Rate
0.96%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calypso, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28325 | 1.18% | 1.21% | 1.21% | 1.21% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Calypso, North Carolina
In Calypso, 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 Duplin 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 Calypso, 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 Calypso helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Calypso's property tax bills can vary significantly. For example, the median tax bill in the 25th percentile is $712, while in the 75th percentile, it rises to $1,103. The highest and lowest median tax bills are both $921, found in the zip code 28325. Understanding these variations can help homeowners anticipate and manage their tax expenses more effectively.
Average Calypso Assessed Value
$77,200
Average Duplin County Assessed Value
$70,400
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calypso, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28325 | $32,660 | $53,050 | $77,200 | $89,800 | $113,298 |
Source: Ownwell
Property Tax Bills Across Calypso, North Carolina
In Calypso, Duplin County, NC, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, the median home price in Calypso is $77,200. Homeowners can expect their tax bills to vary significantly; the 25th percentile tax bill is around $712, while the 75th percentile reaches $1,103. At the higher end, the 90th percentile tax bill can be as much as $1,543. These tax bills directly impact homeowners by influencing their overall cost of homeownership. A higher assessed value or tax rate results in a higher tax bill, which can affect budgeting and financial planning. Compared to the national median property tax rate of 0.99%, homeowners in Calypso experience a range of tax burdens, highlighting the importance of understanding local property tax assessments and rates.
Average Calypso Tax Bill
$921
Average Duplin County Tax Bill
$757
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Calypso, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28325 | $411 | $712 | $921 | $1,103 | $1,543 |
Source: Ownwell